Nomura starts Jio Platforms at Buy with Rs 1,340 target
In short
Nomura gave Jio Platforms its first Buy call before the stock market debut and set a target price of Rs 1,340. That target is about 20% above the issue price of Rs 1,119.
The call matters because it signals early analyst support for the listing. The reporting does not say how the shares will trade or whether the expected tariff hikes happen.
What the reporting says
Nomura initiated coverage on Jio Platforms with a Buy rating and a Rs 1,340 target ahead of the company’s stock market debut, according to a publisher summary. The note said that target implies about 20% upside from the issue price of Rs 1,119 and cited leadership in wireless subscribers, data traffic and home broadband. The reporting does not provide the actual listing result.
Why it matters
Nomura initiated coverage on Jio Platforms with a Buy recommendation and a Rs 1,340 target before the stock market debut, based on the publisher summary. The brokerage cited Jio’s position in wireless subscribers, data traffic and home broadband, and said the listing could support tariff hikes and monetisation. The report does not state the actual market reaction, any execution of those tariff changes, or the listing price outcome.