Trending Stocks Today, October 28, 2026: Jio Platforms Jumps 21% On Debut, PC Jeweller Falls, Vodafone Declines After Subscriber Data, Ola Electric Continues Rally

Mumbai, October 28: PC Jeweller, Vodafone Idea, Ola Electric Mobility and Jio Platforms were the most traded stocks in focus on the National Stock Exchange (NSE) on Wednesday, as investors tracked quarterly earnings, fundraising plans, telecom subscriber data and a high-profile market debut. PC Jeweller fell 4.74%, while Vodafone Idea declined 1.40%. Ola Electric Mobility advanced 2.79%, and Jio Platforms made its stock market debut at a premium of around 21% over its IPO price. 

PC Jeweller Limited (down 4.74%) 

PC Jeweller shares fell on Wednesday, giving up gains from the previous session, when the stock snapped a three-day losing streak. The jewellery maker had reported a 58% year-on-year increase in net profit for the September quarter last week. 

Despite the latest decline, the stock has gained around 70% in 2026, with investors tracking its financial recovery and efforts to strengthen its balance sheet. 

A major milestone in the turnaround came after PC Jeweller settled its dues with lender banks through a one-time settlement (OTS), allowing the company to declare itself debt-free. The development marks a significant step towards reducing financial liabilities and improving its overall financial position. 

Investors will now look for sustained earnings growth, continued balance-sheet improvement and the company’s ability to capitalise on jewellery demand. 

Vodafone Idea Limited (down 1.40%) 

Vodafone Idea shares came under pressure despite the telecom operator adding 5.50 lakh wireless subscribers in September, as Reliance Jio and Bharti Airtel continued to dominate customer additions, according to data released by the Telecom Regulatory Authority of India (TRAI). 

Vodafone Idea’s subscriber base crossed 20 crore to reach 20.01 crore at the end of September, giving it a 15.39% share of India’s wireless mobile market. However, its additions remained significantly below those of Jio and Airtel, highlighting the challenge it faces in narrowing the gap with its larger rivals. 

Reliance Jio added 27.13 lakh subscribers during the month, taking its total wireless mobile user base to 51.11 crore, while Airtel gained 26.92 lakh users to reach 49.43 crore. State-run Bharat Sanchar Nigam Ltd (BSNL) added 6.26 lakh subscribers, also outpacing Vodafone Idea. 

Jio retained its market leadership with a 39.32% share, followed by Airtel at 38.02% and Vodafone Idea at 15.39%. The figures underscore the competitive pressure on Vodafone Idea as its two larger private-sector rivals continue to capture the bulk of new mobile connections. Whether the company can accelerate subscriber growth and strengthen its competitive position remains a key monitorable for investors. 

Ola Electric Mobility Limited (up 2.79%) 

Ola Electric Mobility shares rallied on Wednesday, extending the previous session’s gains and bringing the electric two-wheeler maker into focus as it seeks to raise Rs 1,000 crore through a rights issue. The stock’s recent momentum comes after Japanese investor SoftBank sold part of its rights entitlements in the company. 

Exchange data showed that SoftBank offloaded 28% of its rights entitlements over two trading sessions on October 22 and 23. The transaction comes as Ola Electric looks to shore up its finances amid intensifying competition and a decline in revenue. 

The company has fixed the rights issue price at Rs 27 per share and plans to raise up to Rs 1,000 crore through the issuance of approximately 37.03 crore partly paid-up equity shares. The offer opened on October 22 and will close on October 30. The issue price represented a 26% discount to the prevailing market price when the terms were announced. 

The fundraising follows Ola Electric’s Rs 780 crore qualified institutional placement (QIP) in June, as the company seeks additional capital to strengthen its balance sheet and support operations in an increasingly competitive electric two-wheeler market. 

Investor participation has also drawn attention to the issue. Motilal Oswal Financial Services and Calliope Capital Advisors, an investment vehicle associated with Motilal Oswal, applied for a combined 2.39 crore shares on the opening day, according to exchange disclosures. Investors will track the rights issue’s subscription and the company’s ability to translate fresh capital into a sustained business recovery. 

Jio Platforms Limited (up 21.75% over issue price)  

Jio Platforms, billionaire Mukesh Ambani’s telecom and digital services business, made a blockbuster stock market debut on Wednesday, with shares listing at Rs 1,358 apiece on the exchanges, a 21% premium over the issue price of Rs 1,119. The listing marks the first public offering from the Reliance Industries group in two decades. 

The company’s Rs 30,213-crore initial public offering (IPO) attracted bids worth $77 billion, making it India’s most-subscribed public issue ever. Jio Platforms had been valued at up to $108.3 billion in the IPO, but its strong debut pushed its market capitalisation to approximately $131.5 billion, placing it among the country’s most valuable listed companies.  

The listing lifted Jio Platforms ahead of Bharti Airtel and HDFC Bank in market capitalisation, making it India’s second-most valuable publicly traded company after Reliance Industries. The debut represents a major milestone for Ambani’s strategy of transforming Reliance from an oil-and-chemicals conglomerate into a diversified business spanning telecommunications, technology, retail and consumer services.  

Jio’s telecom business serves more than 530 million customers, making it the world’s second-largest mobile operator by subscriber numbers within a single country, behind China Mobile. The company has also expanded into cloud computing, artificial intelligence (AI), enterprise networking and digital applications, seeking to generate additional revenue from its extensive customer base.  

The public offering was priced at Rs 1,065-Rs 1,119 per share. A substantial portion of the proceeds is earmarked for repaying or prepaying borrowings at its telecom subsidiary, Reliance Jio Infocomm, with the remainder intended for general corporate purposes, including capital expenditure. 

Source

•  NSE