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Jio Listing Fuels Reliance Shares: Experts Predict Surge
28 Oct
Summary
- Jio Platforms' listing impacts Reliance Industries shares due to its large stake.
- RIL holds roughly a two-thirds stake in the newly listed Jio Platforms.
- Reliance shares may appreciate significantly if Jio sustains high levels.
The recent listing of Jio Platforms on the NSE and BSE is expected to have a notable impact on Reliance Industries Ltd (RIL) shares. RIL retains a significant stake, approximately two-thirds, in its demerged entity, Jio Platforms.
Following its listing at ₹1,358 per share, Jio Platforms' market capitalization reached around ₹12.50 lakh crore. RIL's shareholding translates to a market cap of approximately ₹8.125 lakh crore in Jio.
Considering a potential discount for parent companies, the market cap of Jio Platforms attributable to RIL might be closer to ₹6.50 lakh crore. This could lead to an estimated appreciation of ₹477 per share in Reliance's stock.
Furthermore, analysts project that a ₹100 increase in Jio Platforms' share price could result in a ₹35 per share rise for Reliance Industries, assuming Jio Platforms sustains its higher valuation.
