Jio IPO’s grey market hints at 20% listing pop. What are Emkay, SBI Securities saying?
Reliance Industries set out an expansion in an ipo & listings development.
· Economic Times Markets
Jio Platforms’ Rs 30,200 crore IPO commands a grey market premium of Rs 221, suggesting nearly 20% listing gains. Emkay Global and SBI Securities highlight its telecom leadership, earnings growth, digital expansion and technology strengths, while flagging regulatory, competitive and financial risks.
The analysis
Reliance Industries reported Rs 30,200 crore and Rs 221,, with movement of 20% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.2% on the day at ₹1,164.90, and has returned -9.9% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.7% over the same period, so Reliance Industries is running 4.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: Reliance Industries (Jio) (RELIANCE), in Oil & Energy.
- On the day, 0 of 2 are higher: Reliance Industries (Jio) leads at -0.2% and State Bank of India (SBI) trails at -1.0%.
- Over three months: Reliance Industries (Jio) -9.9% against Oil & Energy -5.7% (4.2 points behind); State Bank of India (SBI) -6.2% against Banks -6.0% (0.2 points behind).
- At least 25% below the 52-week high: Reliance Industries (Jio) (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (Jio)RELIANCE · Oil & Energy | ₹1,164.90 | -0.2% | -1.9% | -9.9% | -26.8% | 1.0× | — |
| State Bank of India (SBI)SBIN · Banks | ₹961.85 | -1.0% | +0.2% | -6.2% | -21.7% | 0.9× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries (Jio)
Banks
1M -3.4% · 3M -6.0%
State Bank of India (SBI)
Financial Services
1M -8.8% · 3M -14.9%
Telecom & Media
1M -0.2% · 3M +0.9%
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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