Jio Platforms draws bullish bets, analysts see up to 28% upside

Mumbai: Four brokerages, including Nomura, Motilal Oswal Securities, Elara Capital and Dolat Capital, initiated coverage on Jio Platforms just ahead of its listing. While Nomura, Motilal Oswal Securities and Elara Capital assigned a 'Buy' rating, with implied upside potential of 20-22% from the issue price, Dolat Capital initiated coverage with an 'Accumulate' rating and a target price implying 28% upside.

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Brokerages said Jio Platforms could emerge as a price setter in the telecom industry, paving the way for steady tariff hikes that competitors could follow. Some analysts also expect the stock to trade at a premium to Bharti Airtel's India business in the near term, citing Jio's market leadership, greater influence over industry tariffs and limited liquidity in the stock.


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