Brokerages see up to 28% upside in Reliance after Jio IPO filing; TPs up to Rs 1,675
At its 49th AGM, Reliance filed Jio Platforms' IPO prospectus with SEBI (270M shares, ~2.9% dilution, valuation Rs 11-12 trillion). Jefferies, Nomura and Motilal reiterated 'Buy' with targets of Rs 1,640-1,675, citing Retail's manufacturing/export push and RCPL scaling. Jio revenue rose 14.6% to Rs 1,468.9B.
At its 49th AGM, Reliance outlined growth across telecom, retail, AI and energy, filing Jio Platforms' IPO prospectus with SEBI. Brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside, citing Retail's manufacturing/export push and RCPL scaling.