Jio Platforms gets first Buy call! Nomura says ‘disruptor now the leader’; starts coverage with Rs 1,340 target

Shares of Jio Platforms listed at Rs 1,359 on BSE and NSE, a premium of 21% over the IPO price. Nomura set a target price of Rs 1,340, implying 20% upside from the issue price of Rs 1,119. The brokerage cites Jio’s leadership in wireless subscribers, data traffic and home broadband, adding that its listing could support steady tariff hikes and drive monetisation.

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