RIL target price ahead of Jio IPO: 47% upside - Why Religare recommends buying Mukesh Ambani stock before issue launch

Religare Broking recommends buying Reliance Industries, setting a target price of ₹1,696 against a reference price of ₹1,156, implying 46.7% upside. It sees a potential Jio Platforms IPO, improving cash flows, debt reduction and growth in Retail, O2C and New Energy as catalysts for a re-rating.

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