Brokerages see up to 28% upside in Reliance after Jio IPO filing; RCPL, retail exports scale
Jefferies, Nomura and Motilal Oswal reiterated Buy on Reliance Industries post-AGM, with targets up to Rs 1,675 (28% upside), after Jio Platforms filed its IPO prospectus. Jio valued at Rs 11-12 trillion with 524M subscribers; Reliance Retail pushes into manufacturing and exports while RCPL scales as a consumer brands platform. Listing possible by end-2026.
At Reliance's AGM, brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside after Jio Platforms filed its IPO prospectus. Retail is pushing into manufacturing/exports and RCPL scaling as consumer brands platform.
Why this matters
Reinforces the post-AGM re-rating thesis, building on prior signals flagging 28% upside and an end-2026 Jio listing as retail exports and RCPL diversify Reliance's growth beyond telecom.
Retail-company signals are accelerating, up +577400% QoQ.