Nomura rates Jio Platforms buy at ₹1,340 per share
Business
Nomura just gave Jio Platforms a thumbs up on its stock market debut, recommending a "buy" with a price target of ₹1,340 per share.
That's about 20% higher than the top end of its current price range: pretty solid for anyone watching the markets.
Jio draws ₹7.4L/cr bids
Jio already leads India's telecom scene with 42% of wireless users and handles 60% of all data traffic.
Nomura is betting on steady growth, expecting Jio's EBITDA to grow at a 13.5% CAGR over FY2026-2029.
Plus, their recent fundraising drew massive investor interest: bids totaled a whopping ₹7.4 lakh crore, which shows people are confident in Jio's future.