Shares of Jio Platforms lit up the NSE and BSE on Wednesday, leaping 27% from opening to a close of ₹1,417.50. The rally eclipsed Bloomberg’s consensus 12‑month target of ₹1,373, and lifted the stock above the 1,400‑level that had been a psychological barrier for most of the session.
The combined trading volume hit ₹26,571 crore, a figure that represents roughly 88% of the turnover recorded by the entire Nifty‑50 index that day. A total of 19.4 crore shares changed hands, with ₹24,276 crore traded on the NSE and ₹2,295 crore on the BSE. The volume outpaced the 2,827 crore turnover of Bharti Airtel and the 2,565 crore of Reliance Industries, underscoring the market’s appetite for Jio’s debut.
Jio’s market value surged to ₹13.1 lakh crore, propelling it to the fifth‑largest telecom firm globally and the second‑largest listed company in India, just behind Reliance Industries. The valuation placed the company ahead of peers such as Deutsche Telekom and Bharti Airtel, and it set a new benchmark for telecom listings in the country.
Several brokerage houses, including Nomura and Motilal Oswal Securities, opened coverage on the stock, with price targets ranging from ₹1,340 to ₹1,435. Nomura’s buy rating highlighted Jio’s expansive 5G footprint, higher data consumption per subscriber, and low churn as key competitive edges. The firm also noted that a 15% tariff hike in November–December could lift average revenue per user (ARPU) immediately.
Looking ahead, Nomura projects Jio’s EBITDA to grow at a CAGR of 13.5% from FY26 to FY29, driven by a shift from flat unlimited plans to tiered pricing, premium 5G services, and home‑broadband expansion. The company’s first‑quarter results will be released in December, and analysts will be watching how the 5G roll‑out translates into revenue growth and market share gains.