Religare sets RIL target at ₹1,696, sees 46.7% upside
In short
Religare Broking said to buy Reliance Industries and set a target price of ₹1,696, compared with a reference price of ₹1,156. That implies 46.7% upside. It pointed to a possible Jio Platforms IPO, better cash flow, debt reduction and growth in Retail, O2C and New Energy.
This matters because it can affect investor views on RIL stock. The report does not say when the Jio IPO may happen or whether it is confirmed.
What the reporting says
Religare Broking recommended buying Reliance Industries and set a target price of ₹1,696 versus a reference price of ₹1,156, implying 46.7% upside. The broker cited a possible Jio Platforms IPO, improving cash flows, debt reduction and growth in Retail, O2C and New Energy as reasons for a re-rating. The timing and certainty of the IPO are not stated, so the catalyst remains uncertain.
Why it matters
Religare Broking recommended buying Reliance Industries and assigned a ₹1,696 target versus a ₹1,156 reference price, implying 46.7% upside. The broker pointed to a possible Jio Platforms IPO, improving cash flows, debt reduction and growth in Retail, O2C and New Energy as catalysts. This is relevant for RIL shareholders and the broader Indian equity market, but the report does not confirm the IPO timing or final structure.