Reliance draws up to 28% upside calls from Jefferies, Nomura, Motilal after Jio IPO filing
At its 49th AGM, Reliance detailed growth across retail, telecom, AI and energy, and filed Jio Platforms' DRHP with SEBI for a possible end-2026 listing. Jefferies, Nomura and Motilal reiterated 'Buy', with top target of Rs 1,675. Jio valued at Rs 11-12 trillion, with 524 million subscribers.
At its 49th AGM, Reliance detailed growth across retail, telecom, AI and energy, and filed Jio Platforms' DRHP with SEBI for a possible end-2026 listing. Brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside.
Why this matters
Following the Jio DRHP filing, multiple brokerages including Motilal, Jefferies and Nomura converged on up to 28% upside for Reliance, reinforcing bullish sentiment around the potential end-2026 IPO.
Retail-company signals accelerating, up 743500% QoQ.