Jefferies, Nomura, Motilal see up to 28% upside in Reliance after Jio IPO filing
Post-AGM, brokerages reiterate Buy with targets of Rs 1,640-1,675 (23.5-28% upside) after Jio's IPO filing. Growth engines cited: Jio listing by end-2026 at Rs 11-12 trillion valuation, Retail's manufacturing/export push, RCPL consumer brands, New Energy and AI.
At RIL's AGM, brokerages Jefferies, Nomura and Motilal reiterated Buy ratings with up to 28% upside after Jio's IPO filing. Growth engines include Jio listing, Retail's manufacturing/export push, RCPL consumer brands, New Energy and AI.