The Nifty Blue-Chip stock, however, dropped 2% on Friday after the AGM, as the Geo IPO is expected to leave the RIL with a holding company discount. On Monday, the stock fell by 0.5%.
Jefferies calculations show that, to offer 10% IRR to its investors, Jio’s market cap will require $ 118 billion by March 2026.
“Its EBitDA will have to reach US $ 10bn by FY 27, which in turn requires 20% of the accumulated tariffs from the current levels, but even after assembling a 2.4x jump in its non-mobile income up to its non-mobile income up to 8.8bn, all of this may be in tariffs.
Jefferies has given a buy rating with a target of Rs 1,670, showing strong growth in Jio, Retail and Energy. Brokerage believes that RJIO is well kept for delivering 18%/23% CAGR to revenue/EBITDA on FY 25-27, with increasing tariffs and home broadband business scale-ups in mobile.
Brokerage is worth 13x EV/EBITDA in its SOTP and a $ 130 billion market cap, Geo is worth $ 146bn in EV.
Morgan Stanley said that the RIL’s ambition to become India’s AI powerhouse should be NAV activative because it integrates General AI infrastructure on the gigatal scale on the Gigawat scale and is interconnected and related to HyperScalers to adopt AI as a service.
Brokerage said, “India pays attention to AI infrastructure, we believe that Reliance has all the components of India’s most aggressive game on General AI, as it mimics the US Hipperceller model, providing power generation capacity to data centers for statement and training.”
Also read | What is the meaning of record breaking Jio IPO for 44 lakh Reliance Industries Shareholders
At AGM, RIL announced the creation of Reliance Intelligence, the purpose of establishing various subsidiary AI enterprises and creating GW-Scale data centers. He has entered partnership with Meta and Google. Ambani expects all three of its new businesses (FMCG, new Energy Raza and AI) exceeded the scale of its current businesses. He also believes that the new Energy Zoo business will match his O2C scale in 5-7 years.
“Despite these exciting goals and announcements, we continue to find stock at the attractive risk-pure entrance point and repeat our outperform recommendation,” CLSA said while giving a target price of Rs 1,650.
Domestic Brokerage Newwama, the highest target price on RIL is Rs. Holds 1,733, said that the new ENERGY business has a multi-decadle opportunity, while the O2C expansion is on the track, and there will be additional growth drivers for the AI and FMCG behemoth.
But here is the catch that investors have said: “When Jio can attract more value in IPO, RIL shareholders will not benefit greatly due to Holdco valuation discounts,” Nuvama warned.
Analysts expect that Jio will be the largest development driver with 19% EBITDA CAGR over FY25-28, which is run by a continuous ramp-up of homes and enterprise ings fur, which is one more tariff increase, wireless market share benefits and homes and enterprise ings fur.
Also read | Reliance Jio IPO on evaluation of $ 154 billion? What do India’s largest list and investors need to know
“We value RJIs on the basis of DCF – ~ 13.5x SEP’27E EV/EBitda proposed to reach our enterprise valuation of INR 12.5T (USD 142B), JP 33.6% minority, JP 33.6%, JP 33.6%. Assign a Taluation of Rs 1,700 on the RIL.
List of Jio, as promised by Ambani, in the first part of 2026, the tariffs in this field move well for Outlook and can also rating in telecom stocks in the IPO part.
Geo is expected to be on the largest list of the early public Ering Running (IPO), analysts estimated to evaluate its position with global allies above $ 100 billion.
Both BNP Paribas and Goldum Man’s target price 1,700, Bofa Securities Rs. 1,660, City 1,690, JP Morgan RS 1,695 and Morgan Stanley Rs. Is 1,602.
As a reliable and reliable news source
Add now!
(Now you can subscribe to our Etmarkets WhatsApp channel)
