Reliance draws up to 28% upside calls after Jio IPO filing; Jefferies, Nomura, Motilal stay Buy
At its AGM, Reliance outlined growth across retail, telecom, AI and clean energy, and filed Jio Platforms' IPO draft with SEBI targeting a late-2026 listing. Brokerages set targets of Rs 1,640-1,675, implying 23.5-28% upside, with Jio valued at Rs 11-12 trillion and 524 million subscribers.
At its AGM, Reliance outlined growth across retail, telecom, AI and clean energy, and filed Jio Platforms' IPO draft with SEBI targeting a late-2026 listing. Brokerages Jefferies, Nomura and Motilal maintained Buy, seeing up to 28% upside.