Jefferies lifts RIL target after Rs 1 lakh crore fall, pins next leg of rally on Jio IPO, tariff hikes

A day after Reliance Industries (RIL) shares fell 4.4%, wiping out Rs 94,000 crore in market value, Jefferies raised its 12-month price target to Rs 1,830, maintaining a Buy rating. The brokerage cited a potential Jio tariff hike and an IPO of the telecom arm as key triggers for the conglomerates next re‑rating, implying roughly 21% upside.