Shares of Jio Platforms continued their strong run on Thursday, October 29, rallying another 5% on the second day of trading after a blockbuster stock market debut. The stock extended its gains after listing on Wednesday, October 28, following the ₹30,213‑crore initial public offering (IPO), which was fully subscribed within 100 minutes of opening. In early trade, the stock jumped as much as 5% to hit the day’s high of ₹1,489.70 on the NSE, against its previous close of ₹1,417.50.

Jio Platforms’ sharp post‑listing rally has put the spotlight on its valuation, growth prospects and the sustainability of its market momentum. Investors will be watching the stock’s performance in the coming sessions, along with the company’s ability to translate growth in its telecom and digital businesses into earnings and cash flows. The key question is whether the buying momentum can continue after the strong debut or whether investors will start booking profits at higher levels.

Meanwhile, Jio Platforms is scheduled to announce its Q2 FY27 results on Friday, October 30. This will be its first earnings announcement since listing as a separate entity. Parent company Reliance Industries (RIL) is also scheduled to announce its September quarter results on Friday. These announcements will provide early insight into the company’s financial health and its ability to sustain the post‑IPO growth trajectory. The market valuation of Jio Platforms stood at ₹13 lakh crore at the close of trade on Wednesday, while its parent Reliance Industries had a market valuation of ₹15.67 lakh crore. The combined market valuation of the Reliance Group reached ₹30 lakh crore, surpassing the Tata Group’s ₹25.28 lakh crore.

Jio Platforms’ listing made the Reliance Group the biggest conglomerate by market valuation on Wednesday, overtaking the Tata Group. The company’s market valuation stood at ₹13 lakh crore. At the close of trade on Wednesday, Reliance Industries’ market valuation was ₹15.67 lakh crore, Jio Platforms commanded an mcap of ₹13 lakh crore and Jio Financial Services ₹1.35 lakh crore. The combined market valuation of the Reliance Group stood at ₹30 lakh crore, according to BSE data. In contrast, the combined market valuation of the Tata Group firms, including TCS, Tata Steel, Titan, Tata Power, Tata Motors Passenger Vehicles and Trent, stood at ₹25.28 lakh crore.

Motilal Oswal’s Siddhartha Khemka, Head of Research, Wealth Management, noted that in the primary market, Jio Platforms made a strong debut, listing at Rs 1,358 on both exchanges, a 21.36 per cent premium to its issue price of Rs 1,119, taking its market capitalisation to ₹13 lakh crore, making it India’s second‑most valuable listed company after Reliance. Khemka added that the strong debut breaks the recent run of disappointing mega‑IPO listings and signals sustained investor appetite for quality offerings, potentially supporting the IPO pipeline into the next quarter.