Jio Platforms shares climb over 3% after Q2 PAT rises 14% YoY to Rs 8,389 crore. Buy, sell or hold?

What happened: Jio Platforms shares rose over 3% after Q2 PAT climbed 14% YoY to Rs 8,389 crore, the company's first results since its October 28 listing. Key numbers: PAT Rs 8,389 crore, up 14% YoY and 8% QoQ. Revenue Rs 40,475 crore, up 11% YoY. EBITDA up 17% YoY, margin 54.1%, up 250 bps. ARPU Rs 218.8. Listed at Rs 1,358 versus issue price of Rs 1,119. Why it matters: Nomura initiated coverage with a Buy and Rs 1,340 target, noting 5G coverage and a 1.6% churn rate position Jio to narrow its ARPU gap with Bharti Airtel. Motilal Oswal has a Buy with a Rs 1,350 target.

Jio Platforms shares rose over 3% after Q2 PAT climbed 14% YoY to Rs 8,389 crore, the company's first results since its October 28 listing.

Nomura initiated coverage with a Buy and Rs 1,340 target, noting 5G coverage and a 1.6% churn rate position Jio to narrow its ARPU gap with Bharti Airtel. Motilal Oswal has a Buy with a Rs 1,350 target.