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After making a strong debut on the National Stock Exchange today, the shares of Jio Platforms closed at Rs 1,419, at a gain of 26.81%. Jio Platforms achieved a market capitalisation of Rs 13,06,761.47 crore on its first day of trading, making it the second most valued company on the Indian stock markets, next only only to its parent firm Reliance Industries. The top five Indian companies in terms of market capitalisation now are: Reliance Industries (Rs 16 lakh crore), Jio Platforms (Rs 13 lakh crore), Bharti Airtel (Rs 12 lakh crore), HDFC Bank (Rs 10.57 lakh crore), and ICICI Bank (Rs 9.89 lakh crore). Tata Consultancy Services has moved to the sixth place (Rs 8.90 lakh crore). Jio Platforms' share opened at Rs 1,358 today, gaining 21.3% over the issue price of Rs 1,119 apiece. The company's Rs 30,213-crore IPO received an overwhelming response from investors last week. It was oversubscribed in less than two hours on opening day, and closed with a 22X oversubscription. As it positions itself as a technology firm, Jio Platforms is betting on digital services, artificial intelligence, and cloud computing to drive growth beyond telecom. "There is no either-or at Jio: the network is our technology," said Akash Ambani, Managing Director of Jio Platforms, highlighting the company's in-house 5G core, cloud-native radio access network, and software platform serving 533.3 million customers. “Connectivity was the first product we built on that platform. Digital services, AI and cloud are what we are layering on top of it now," he said. Meanwhile, brokerage houses are bullish on the prospects of Jio Platforms. Motilal Oswal, in its note, said scaling up digital platforms (cloud, enterprise communications, IoT, and managed services, along with international tie-ups for 5G/UBR technology) will offer Jio Platforms the next leg of growth beyond the connectivity business. The brokerage house has set a bull-case target price of Rs 1,690 crore and a bear-case target price of Rs 1,035. Image credit: NSE The copy was updated with additional information.
document fetched 2026-10-29 03:04