Jefferies sees 13% upside in Reliance Industries; Expects Reliance Jio to list by 2025 with $112 billion valuation

Global brokerage firm Jefferies has maintained its ‘Buy’ rating on Reliance Industries, setting a target price of Rs 3,580 per share. This target implies a potential upside of 13% from the stock’s closing levels on Wednesday, making it the third highest price target for Reliance Industries on the street.

Potential Jio Listing by 2025

Jefferies foresees the potential listing of Reliance Jio by Calendar Year 2025 at a valuation of $112 billion, suggesting a 7-15% upside for Reliance Industries. Recent tariff adjustments by Jio indicate a strategic focus on monetization and gaining market share in subscribers.