Brokerages see up to 28% upside in Reliance after Jio IPO filing; Retail eyes manufacturing push
At its 49th AGM, Reliance filed Jio's DRHP with SEBI for a possible end-2026 listing. Jefferies (TP Rs 1,675), Motilal Oswal (Rs 1,655) and Nomura (Rs 1,640) reiterated Buy. Reliance Retail is expanding into manufacturing, exports and consumer brands as the group scales telecom, retail, AI and energy.
At its 49th AGM, Reliance outlined growth across telecom, retail, AI and energy, and filed Jio's DRHP with SEBI for a possible end-2026 listing. Brokerages reiterated Buy with up to 28% upside; Reliance Retail pushing into manufacturing, exports and consumer brands.
Why this matters
Follows Reliance confirming Ambani succession and filing Jio's DRHP, with retail anchoring the valuation story. Brokerages now quantify up to 28% upside as the manufacturing push adds a new growth lever.
Retail-company theme is accelerating, up 419900% QoQ.