Brokerages see up to 28% upside in Reliance after Jio IPO filing; Retail eyes manufacturing, exports
Post-AGM, Jefferies, Nomura and Motilal Oswal reiterate 'Buy' on Reliance Industries with targets up to Rs 1,675 (28% upside) after Jio's IPO draft filing with SEBI. Jio valued at Rs 11-12 trillion with 524M subscribers, while Reliance Retail pushes deeper into manufacturing and exports.
At its AGM, Reliance outlined growth across telecom, retail, consumer brands, energy and AI, with Jio's IPO draft filed with SEBI. Brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside; Retail pushing into manufacturing and exports.
Why this matters
Reinforces the post-DRHP re-rating theme: brokerages flagged 28% upside after Jio's IPO filing, with Reliance Retail positioned as a value engine via manufacturing and exports.
Retail-company signals accelerating at +460300% QoQ.