Brokerages see up to 28% upside in Reliance after Jio IPO filing
Jefferies, Nomura and Motilal Oswal reiterated 'Buy' on Reliance Industries after Jio Platforms filed its IPO DRHP, with target prices implying 23.5-28% upside. Jio valued at Rs 11-12 trillion; retail scales into manufacturing/exports and RCPL consumer brands as multiple growth engines flag.
At Reliance's AGM, brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside after Jio Platforms filed its IPO DRHP. Retail pushes into manufacturing/exports; RCPL scales as consumer brands platform; multiple growth engines flagged.