Brokerages see up to 28% upside in Reliance after Jio IPO filing; Retail flagged as key value engine
At Reliance's 49th AGM, Jefferies (TP Rs 1,675), Motilal (Rs 1,655) and Nomura (Rs 1,640) reiterated Buy following Jio's IPO filing. Reliance named Retail's manufacturing/export push and RCPL's consumer-brands scaling among five value-creation engines, with Jio valued at Rs 11-12 trillion and listing targeted by end-2026.
At Reliance's 49th AGM, brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside after Jio's IPO filing. Reliance flagged Retail's push into manufacturing/exports and RCPL scaling as consumer brands platform among five value-creation engines.