Reliance draws 'Buy' calls with up to 28% upside after Jio IPO filing
Jefferies, Nomura and Motilal Oswal reiterate 'Buy' on Reliance Industries, with targets up to Rs 1,675 (28% upside), following Jio's SEBI IPO filing targeting a late-2026 listing. Brokerages cite Retail's manufacturing and export push plus RCPL scaling alongside Jio's projected FY26 revenue growth of 14.6%.
At its 49th AGM, Reliance outlined growth across retail, telecom, AI and energy, plus Jio's IPO filing with SEBI targeting a late-2026 listing. Jefferies, Nomura and Motilal Oswal reiterated 'Buy' with up to 28% upside, citing Retail's manufacturing/export push and RCPL scaling.
Why this matters
Reiterated 'Buy' calls extend the recent run of brokerage upside notes on Reliance tied to Jio's IPO filing and Retail's manufacturing and export push, reinforcing a consistent up-to-28% upside view.
retail-company theme accelerating, up +426700% QoQ.