Jio IPO may trigger Reliance’s next big re-rating. Why Religare sees 47% upside
Reliance Industries is in focus in an ipo & listings development.
· ET Stocks, Economic Times Markets
Reliance Industries could see a valuation re-rating as Jio Platforms’ proposed Rs 30,000 crore IPO brings greater transparency to its digital business. Religare has a target price of Rs 1,696 on the stock, implying 46.7% upside from its current market price.
The analysis
Reliance Industries reported Rs 30,000 crore and Rs 1,696, with movement of 47% and 46.7% 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 -0.9% on the day at ₹1,159.70, and has returned -10.6% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -4.7% over the same period, so Reliance Industries is running 5.9 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.
In this story
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