Brokerages see up to 28% upside in Reliance after Jio IPO filing
Following Reliance's AGM and Jio's SEBI IPO filing targeting end-2026, Jefferies, Nomura and Motilal reiterated Buy with targets up to Rs 1,675. Jio revenue rose 14.6% to Rs 1,468.9B with 524M subscribers, while the retail arm pushes into manufacturing and exports.
Reliance AGM outlined growth across retail, telecom, AI and energy, plus Jio IPO filing with SEBI targeting end-2026. Brokerages Jefferies, Nomura and Motilal reiterated Buy, seeing up to 28% upside. Retail arm pushing into manufacturing and exports.