Brokerages see up to 28% upside in Reliance after Jio IPO filing
At its 49th AGM, Reliance detailed growth across telecom, retail, AI and clean energy, plus Jio's SEBI IPO filing targeting an end-2026 listing. Jefferies, Nomura and Motilal reiterate Buy with targets of Rs 1,640-1,675, implying 23.5%-28% upside. Jio valued at Rs 11-12 trillion with 524M+ subscribers.
At its 49th AGM, Reliance detailed growth across telecom, retail, AI and clean energy, plus Jio's SEBI IPO filing targeting an end-2026 listing. Brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside.
Why this matters
Follows Reliance's Jio DRHP filing that prompted the same up-to-28% upside calls, and comes as RIL eyes a sequential Q1FY27 rebound with retail revenue seen up 11-12% despite softer Ebitda margins.
Retail-company signals accelerating, up 814,500% QoQ.