Brokerages see up to 28% upside in Reliance after Jio IPO filing; RCPL pours Rs 100 bn into beverages
At Reliance's 49th AGM, Jefferies, Nomura and Motilal Oswal set targets of Rs 1,640-1,675 (23.5-28% upside) after Jio Platforms filed its IPO DRHP. Reliance Consumer Products' Rs 100 billion beverages bet signals continued FMCG and retail expansion backed by parent-level capital.
At Reliance's 49th AGM, brokerages Jefferies, Nomura and Motilal see up to 28% upside after Jio Platforms filed its IPO DRHP. RCPL invested Rs 100 billion in beverages, signaling continued retail/FMCG expansion backed by parent-level capital flows.