Brokerages see up to 28% upside in Reliance after Jio IPO filing, retail expansion push
At its 49th AGM, Reliance laid out growth across retail, telecom, AI and energy, plus Jio's SEBI IPO filing. Jefferies, Nomura and Motilal Oswal reiterated 'Buy', with targets up to Rs 1,675 (28% upside). Reliance Retail is pushing into manufacturing, exports and consumer brands.
At its 49th AGM, Reliance outlined growth across retail, telecom, AI and energy, plus Jio's IPO filing with SEBI. Brokerages Jefferies, Nomura, Motilal Oswal reiterated 'Buy' with up to 28% upside; Reliance Retail pushing into manufacturing, exports and consumer brands.
Why this matters
Builds on Reliance's 'Project Jupiter' push steering Jio toward India's biggest IPO at $100B+ valuation, with brokerages now pricing in retail expansion and telecom upside post-AGM.
Retail-company signals are accelerating, up 449200% QoQ.