Jio Platforms holds gains, valuation tops Rs 13 lakh crore

Mumbai: Shares of newly listed Jio Platforms extended their gains for the second straight session on Thursday, closing up 0.4 per cent on the BSE after surging over 5 per cent in intraday trade. The stock advanced 0.40 per cent to close at Rs 1,423.05 apiece on the BSE. During the session, the shares climbed by 5.12 per cent to hit an intraday high of Rs 1,490.

On the NSE, Jio Platforms shares edged up 0.14 per cent to settle at Rs 1,419.50 per share, after climbing 5.09 per cent to touch a high of Rs 1,489.70 during the intraday trade.

The gains lifted Jio Platforms’ market capitalisation (mcap) by Rs 5,249.15 crore to Rs 13,10,491.13 crore on the BSE. Shares of the Reliance Industries-backed digital services company ended over 27 per cent above its issue price of Rs 1,119 on both exchanges. Jio Platforms made a blockbuster debut on Wednesday, ending nearly 27 per cent above its Rs 1,119 issue price to become the second-most valuable domestic firm by market capitalisation.

At Wednesday’s close, Jio Platforms’ market valuation stood at Rs 13 lakh crore. It became the country’s second most valuable listed company by market capitalisation. Reliance Industries is the country’s most valued firm with a market capitalisation of Rs 15.92 lakh crore. Jio Platforms is ahead of Bharti Airtel, HDFC Bank and ICICI Bank in the top five order of mcap ranking.