Brokerages see up to 28% upside in Reliance after Jio IPO filing, retail manufacturing push
Motilal, Jefferies and Nomura reiterated Buy on Reliance Industries with targets up to Rs 1,675 (28% upside) following the AGM and Jio Platforms' SEBI IPO filing. Retail's expansion into manufacturing, exports and RCPL consumer brands, alongside FY26 revenue growth of 14.6%, underpins the bullish view.
At its AGM Reliance unveiled growth across telecom, retail, AI and energy, plus Jio Platforms' SEBI IPO filing targeting a possible end-2026 listing. Brokerages reiterated Buy with up to 28% upside, citing Retail's push into manufacturing, exports and RCPL consumer brands.
Why this matters
Builds on Reliance's Jio DRHP filing and Ambani succession confirmation, with Retail anchoring the valuation story as brokerages flag 28% upside following the AGM.
Retail-company signals accelerating, up 422100% QoQ.