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

Jio Platforms has received its first Buy recommendation ahead of its stock market debut, with Nomura setting 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.