Brokerages see up to 28% upside in Reliance after Jio IPO filing
Post its 49th AGM and Jio Platforms' SEBI IPO filing, Jefferies (TP Rs 1,675), Motilal (Rs 1,655) and Nomura (Rs 1,640) reiterated Buy on Reliance Industries, citing Retail's manufacturing and export push plus RCPL scaling. Jio is valued at Rs 11-12 trillion with 524M+ subscribers.
At its 49th AGM, Reliance outlined growth across telecom, retail, AI and energy plus a Jio Platforms IPO filed with SEBI. Brokerages Jefferies, Nomura and Motilal reiterated Buy, seeing up to 28% upside, citing Retail's manufacturing/export push and RCPL scaling.