Brokerages see up to 28% upside in Reliance Industries after Jio IPO filing
Reliance Industries' AGM mapped growth across telecom, retail, AI and clean energy as Jio Platforms filed its IPO draft prospectus for a late-2026 listing. Jefferies, Nomura and Motilal Oswal reiterated Buy with targets up to Rs 1,675 (28% upside), citing Jio revenue of Rs 1,468.9 bn (+14.6%) and 524 million subscribers.
Reliance Industries' AGM outlined growth across telecom, retail, AI and clean energy, with Jio Platforms filing its IPO draft prospectus targeting a late-2026 listing. Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside.
Why this matters
Reinforces a wave of bullish brokerage calls on Reliance, echoing prior 'Buy' signals flagging up to 28% upside tied to the Jio IPO filing and AGM growth roadmap.
Retail-company theme accelerating, up 427200% QoQ.