Reliance draws up to 28% Street upside after Jio IPO filing; Retail eyes manufacturing, exports
Post-AGM, Jefferies, Nomura and Motilal Oswal reiterate 'Buy' on Reliance Industries with targets up to Rs 1,675 (28% upside), citing Jio's SEBI IPO filing valuing the unit at Rs 11-12 trillion. Retail arm pushing into manufacturing and exports as parent capital flows firm up.
At its 49th AGM, Reliance outlined growth across telecom, retail, AI and clean energy plus Jio's IPO filing with SEBI. Jefferies, Nomura and Motilal Oswal reiterated 'Buy' with up to 28% upside; Retail pushing into manufacturing and exports.