RIL, JFSL shares slip; experts see buying opportunities after Jio Platforms listing -
Jio Platforms, RIL's subsidiary and digital arm, listed at Rs 1,358, a premium of 21.36 per cent over its issue price of Rs 1,119. The stock subsequently climbed to a high of Rs 1,423.80 before closing at Rs 1,419, marking a gain of 26.81 per cent over its issue price on debut.
Shares of Reliance Industries Ltd (RIL) declined 3.46 per cent on Wednesday to close at Rs 1,158.50, while Jio Financial Services Ltd (JFSL) fell 0.89 per cent to settle at Rs 205.40, even as Jio Platforms Ltd made a strong stock market debut.
Jio Platforms, RIL's subsidiary and digital arm, listed at Rs 1,358, a premium of 21.36 per cent over its issue price of Rs 1,119. The stock subsequently climbed to a high of Rs 1,423.80 before closing at Rs 1,417.35, marking a gain of 26.66 per cent over its issue price on debut.
Against this backdrop, market experts shared their views on RIL and JFSL, with some seeing potential investment opportunities in the two stocks based on their valuations and business prospects. One expert said Jio Platforms was more suitable for very long-term investors.
G Chokkalingam, founder of Equinomics Research, said, "I believe Reliance Industries is a good buying opportunity. Jio Platforms got listed at a premium, and its medium- to long-term outlook remains very strong. RIL's business is growing very fast, and the new energy business is expanding.
So, I think this is a great opportunity to buy the RIL stock now. Jio Platforms is more suitable for very long-term investors. From a short- to medium-term perspective, one can play on Reliance Industries."
On JFSL, he said, "The stock is trading close to one-time book value. I think it is cheap in terms of valuations, and it has tied up with many major global leaders across various business verticals. So, I am surprised that it is still trading close to one-time its book value.
It is a great opportunity in the stock. A lot of financial services companies in the same space trade at around three times book value. If you look at Jio Financial Services, it is trading at only around one time book value. It is a fabulous story unfolding."
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, also expressed a positive view on RIL, citing global crude oil prices and the company's refining capacity.
"Reliance Industries has a significant holding in Jio Platforms, its subsidiary. Given the prevailing global crude oil prices and the company's refining capacity, RIL is trading at attractive levels. Investors with a medium- to long-term perspective can buy Reliance Industries on every dip," he said
Bathini also recommended buying JFSL shares at the current market price.
Ravi Singh, Chief Research Officer at Master Capital Services, advised long-term investors to consider accumulating RIL shares gradually, while cautioning against aggressive buying.
"Reliance Industries can be considered for gradual buying on dips for long-term investors. Jio Platform listing may unlock value for Reliance shareholders, but immediate gains are not guaranteed. Retail, oil-to-chemicals and new energy businesses remain key growth drivers. Investors should avoid aggressive buying and accumulate in phases, keeping valuations, earnings growth and market volatility in mind before making investment decisions," he stated.
Singh too suggested buying the JFSL's counter at current levels.
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