Jio Platforms share price rose nearly 5% to an intraday high of ₹1,490 on October 29, 2026, extending gains after its stock market debut. The shares listed at ₹1,358 on October 28, a 21.36% premium over the IPO price of ₹1,119. Motilal Oswal, Nomura, and Elara Capital have initiated coverage on Jio Platforms with Buy ratings. Their target prices stand at ₹1,350, ₹1,340, and ₹1,367, respectively. The brokerages expect tariff hikes, customer growth, home broadband expansion, and digital services to support the company’s financial performance. Nomura also expects lower 5G capital expenditure to improve free cash flow, while Elara projects annual revenue growth of 13% between FY2026 and FY2029. Jio Platforms’ market capitalization crossed ₹13.5 lakh crore during early trade on Thursday, making it India’s second-most valuable listed company after Reliance Industries.
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