Jio IPO delay makes Jefferies cut RIL target price but says O2C benefiting amid disruption

Jefferies has cut Reliance Industries (RIL) target price to Rs 1,750, citing a delayed Jio tariff hike and likely Jio IPO postponement. However, the brokerage highlights gains for the oil-to-chemicals (O2C) business amid Middle East supply disruptions, which boost refining and petrochemical margins, offsetting near-term digital segment drag.