New Delhi, Oct. 28 -- Reliance Jio Platforms shares have rallied 23% from their initial public offering (IPO) price of Rs.1,119 to Rs.1,375, putting the telecom and digital services company in the spotlight after its strong listing. As India's second-biggest stock, Jio is attracting bullish forecasts from brokerages betting on its market leadership, potential tariff hikes, broadband expansion and growing digital business.

Nomura, Elara Securities and Motilal Oswal Securities (MOSL) have initiated coverage with Buy ratings and target prices ranging from Rs.1,340 to Rs.1,367. Their estimates point to further growth, although the targets are based on the IPO price and Jio's intra-day high of Rs.1,375 has crossed all the target prices mentio...