Reliance draws up to 28% upside calls as Jio files IPO; RCPL retail bets flagged
At its 49th AGM, Reliance detailed telecom, retail, AI and clean energy growth and filed Jio Platforms' DRHP with SEBI for a possible end-2026 listing. Motilal, Jefferies and Nomura kept 'Buy' with targets of Rs 1,640-1,675, citing Reliance Retail momentum and RCPL's Rs 100 billion FMCG investment.
At its 49th AGM, Reliance detailed growth across telecom, retail, AI and clean energy, and filed Jio Platforms' DRHP with SEBI for a possible end-2026 listing. Brokerages maintained 'Buy' with up to 28% upside, referencing RCPL retail investments.