Reliance: Brokerages See Up to 28% Upside After Jio IPO Filing, Retail Expansion
Post-AGM, Reliance filed Jio Platforms' IPO with SEBI and outlined growth across retail, telecom, AI and energy. Jefferies, Nomura and Motilal reiterated 'Buy' with targets up to Rs 1,675 (28% upside), citing Retail's push into manufacturing and exports. Jio valued at Rs 11-12 trillion; listing expected by end-2026.
At its AGM, Reliance outlined growth across retail, telecom, AI and energy, and filed Jio Platforms' IPO with SEBI. Brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside, flagging Retail's expansion into manufacturing and exports.