Jio IPO price band: Valuation cut for RIL, Bharti Airtel looks attractive; target prices
Reliance Industries moved lower in an ipo & listings development.
· Business Today Mkts
Nomura said Reliance Industries Ltd 's (RIL) 66.4 per cent stake in Jio Platforms after the potential listing would be worth Rs 481-506 per share, equivalent to 41-43 per cent of the current share price.
The analysis
Reliance Industries reported Rs 481, with movement of -43% and 66.4% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +0.8% on the day at ₹1,180.30, and has returned -8.6% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -1.5% over the same period, so Reliance Industries is running 7.1 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy, Telecom & Media.
In this story
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