Brokerages see up to 28% upside in Reliance after Jio IPO filing
Jefferies, Nomura and Motilal Oswal reiterate Buy on Reliance Industries with target prices of Rs 1,640-1,675 after Jio's SEBI IPO filing (possible end-2026 listing). Jio valued at Rs 11-12 trillion with 524 mn subscribers; retail arm pushes into manufacturing, exports and scaling RCPL consumer brands.
At its AGM, Reliance detailed Jio's SEBI-filed IPO (possible end-2026 listing) plus retail push into manufacturing/exports and RCPL consumer brands scaling. Jefferies, Nomura, Motilal reiterate Buy with up to 28% upside.