Jio Platforms listed at ₹1,358 on October 28, and Univest said that put the stock 21.36% above its issue price. The debut lifted Jio into second place by market value and pushed Tata Consultancy Services out of India’s top five.

Early trade stayed close to the listing price

Upstox showed Jio Platforms at ₹1,360.10 at 7:49 UTC, after an opening at ₹1,358 against a previous close of ₹1,119. The live page put the day’s range at ₹1,357 to ₹1,374.50, with an average price of ₹1,365.75.

Business Today said the stock was up 21.76% from the previous close, while Univest calculated a 21.36% premium to the issue price. The small gap between the figures reflects the difference between a rise from the previous close and a gain over the offer price.

Univest placed Jio behind Reliance Industries

Univest estimated Jio Platforms’ market capitalisation at about ₹12.55 lakh crore, enough to move it into second place among India’s most valuable companies. It said Reliance Industries remained first at about ₹15.93 lakh crore.

Univest said Jio’s arrival accounted for most of the change in the ranking, while TCS shares also fell. Jio’s debut reshaped the rankings, with Univest placing the company second by market value.

TCS slipped, but the race for the next spot stayed tight

Univest said Tata Consultancy Services stood at about ₹8.80 lakh crore at 11:59 a.m. IST on October 28, and that Jio’s listing pushed it out of India’s top five most valuable companies. It said the TCS market-cap drop from the previous close was about ₹24,200 crore.

The firm also said TCS and State Bank of India were close enough — at about ₹8.80 lakh crore and ₹8.83 lakh crore respectively — that the two positions could change minute by minute. ICICI Bank stood ahead at about ₹9.89 lakh crore.

That left the day’s story tied to live prices as much as to the listing itself. Jio’s debut set off the reshuffle, while the rest of the leaderboard remained sensitive to every move.