Reliance draws up to 28% upside calls from Jefferies, Nomura, Motilal after Jio IPO filing
At its 49th AGM, Reliance detailed Jio's SEBI IPO filing (listing possible by end-2026), a retail push into manufacturing/exports, and RCPL scaling. Jio valued at Rs 11-12 trillion with 524M+ subscribers. Brokerages reiterated Buy with targets up to Rs 1,675.
At its 49th AGM, Reliance detailed Jio's SEBI IPO filing (listing possible by end-2026), retail push into manufacturing/exports, and RCPL scaling. Jefferies, Nomura and Motilal Oswal reiterated Buy, seeing up to 28% upside.
Why this matters
Follows a run of brokerage notes tied to the Jio IPO DRHP filing, with retail's manufacturing/exports push and RCPL repeatedly cited as Reliance's next growth engines.
Retail-company theme accelerating, up 462700% QoQ.