Reliance draws up to 28% upside calls from Jefferies, Nomura, Motilal after Jio IPO filing
Post-AGM, Reliance filed Jio Platforms' SEBI papers targeting an end-2026 listing at Rs 11-12 trillion valuation. Brokerages hold 'Buy' with TPs up to Rs 1,675, citing Retail's manufacturing/exports push and RCPL scaling alongside telecom, AI and clean energy growth.
Reliance AGM outlined growth across retail, telecom, AI and clean energy, plus Jio Platforms' IPO filing with SEBI targeting end-2026 listing. Brokerages Jefferies, Nomura and Motilal keep 'Buy' ratings seeing up to 28% upside, citing Retail's manufacturing/exports push and RCPL scaling.
Why this matters
The bullish calls follow Q1 profit falling 25% to Rs 23,196 crore with retail revenue up 8%, and FIIs cutting RIL stake to a decade-low 17.20% as promoters bought Rs 9,500 crore.
Retail-company signals are accelerating, up 873400% QoQ.