Brokerages see up to 28% upside in Reliance after Jio IPO filing
Reliance's AGM mapped growth across telecom, retail, AI and energy, with Jio Platforms filing its DRHP for a possible end-2026 IPO. Jefferies (TP Rs 1,675), Nomura (Rs 1,640) and Motilal (Rs 1,655) retained 'Buy'. Retail arm is pushing into manufacturing and exports; Jio valued at Rs 11-12 trillion.
Reliance AGM outlined growth across telecom, retail, AI and energy, with Jio Platforms filing its DRHP for a possible end-2026 IPO. Brokerages Jefferies, Nomura and Motilal kept 'Buy' with up to 28% upside; Retail pushing into manufacturing and exports.
Why this matters
Follows Reliance's market cap nearing Rs 18 lakh crore, matching India's top five IT firms combined. The Jio IPO filing and 'Buy' ratings reinforce momentum across telecom, retail and energy segments.
Retail-company theme accelerating at +541200% QoQ.