New Delhi [India], October 24 (ANI): ICICI Securities has upgraded valuations for Indian telecom companies that are under its coverage, with renewed optimism stemming from the healthier business and financial structures in this key space.

For Jio Platforms Ltd (JPL) (earlier Reliance Jio), which is dominant in mobile and fixed broadband (FBB), ICICI Securities believes its growth will sustain, aided by digital services and tech stacks.

ICICI Securities in its report put out on Friday said it expects Jio's EBITDA/Profit After Tax (PAT) CAGRs of 18.1/ 21.1 per cent over FY25-28E.

"We assign a 16x EBITDA (adj.) multiple; resultant equity value is USD 148bn for Sep'27E," the report read.

JPL's telecom business' RoCE (Return on Capital Employed) expansion is likely at an inflection and is

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