Top brokerages hail Jio’s dominance in mobile and broadband sectors
Financial experts and market analysts are expressing high confidence in the future trajectory of Reliance Jio. Following a period of impressive performance, major brokerage firms including Jefferies, Axis Capital, JM Financial, and ICICI Securities have issued positive forecasts for the telecom giant, citing its command over both wireless and wired internet sectors.
According to recent data highlighted by Jefferies, the Indian telecom landscape witnessed a significant boom in October 2025. The industry recorded its highest growth rate in five months, adding a total of 5.7 million new active users. Spearheading this expansion was Reliance Jio, which single-handedly captured nearly 3.9 million of these new subscribers. This marks the eighth month in a row that Jio has surpassed its primary competitor, Bharti Airtel, in terms of active user acquisition.
The report further suggests that this momentum is driving the company's market share upward across all regions, from metropolitan areas to rural circles. Consequently, Reliance Jio now commands an active subscriber market share of roughly 43 percent, a clear indicator of its strengthening grip on the consumer base.
Beyond mobile connectivity, the company is making massive strides in the home internet space. Analysts at Axis Capital and ICICI Securities pointed out that the broadband division is expanding rapidly, particularly through Fixed Wireless Access (FWA).
The data reveals that Jio’s FWA subscriber base has swelled to 10.2 million, handing the company a staggering 80 percent dominance in this specific niche. In the broader wired broadband market, the company's share improved to over 41 percent in October. Experts believe that with broadband penetration in Indian households sitting at just 16 percent, there is immense room for growth. Since revenue per user in the broadband segment is significantly higher than mobile, this expansion is expected to be highly lucrative.
JM Financial’s analysis supports this view, noting that the demand for JioAirFiber is fueling these numbers. While competitors like Airtel are maintaining steady growth, Reliance Jio’s aggressive expansion and consistently high subscriber additions keep it firmly in the lead position, promising a stable and profitable future for the telco.
With Agency Inputs
