Brokerages see up to 28% upside in Reliance after Jio IPO filing; Retail pivots to manufacturing
Post RIL's 49th AGM and Jio's DRHP filing, Jefferies, Nomura and Motilal reiterated Buy with targets up to Rs 1,675. Jio valued at Rs 11-12 trillion with 524M subscribers. Reliance Retail flagged a push into manufacturing and exports, with RCPL scaling as a consumer brands platform.
At RIL's 49th AGM, brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside after Jio's DRHP filing. Reliance flagged Retail pushing into manufacturing/exports and RCPL scaling as consumer brands platform.
Why this matters
Following RIL's 49th AGM and Jio's DRHP filing, multiple brokerages reaffirmed bullish calls, echoing prior signals flagging up to 28% RIL upside as Reliance Retail pivots toward manufacturing.
Retail-company theme accelerating at +734700% QoQ.