Brokerages see up to 28% upside in Reliance after Jio IPO filing
At Reliance's 49th AGM, Jefferies, Nomura and Motilal Oswal reiterated 'Buy' with targets up to Rs 1,675 (28% upside), citing the Jio IPO filing (valued at Rs 11-12 trillion, 2.9% dilution) alongside growth in retail, consumer brands, new energy and AI.
At Reliance's 49th AGM, brokerages Jefferies, Nomura and Motilal Oswal kept 'Buy' ratings with up to 28% upside, citing Jio IPO filing plus growth engines in retail, consumer brands (RCPL), new energy and AI.
Why this matters
Follows Reliance's Jio DRHP filing, where brokerages flagged 28% upside as the retail arm expands into manufacturing and exports. Reinforces a multi-segment growth thesis across Jio, retail and new energy.
retail-company theme is accelerating, up 583900% QoQ.