RIL AGM 2025 on Friday, August 29: 5 things to watch, target prices by foreign brokers
RIL AGM 2025: Any hints on the timeline for Jio’s IPO and further details on its AI strategy in the AGM will be closely tracked by investors, CLSA said.
- Aug 26, 2025,
- Updated Aug 26, 2025 11:34 AM IST
Foreign brokerages have turned optimistic on Reliance Industries Ltd (RIL) ahead of its 48th annual general meeting (AGM) scheduled for Friday, August 29, 2025, at 2:00 PM. Analysts said the company’s AirFiber is fueling strong growth in home broadband connections, adding further details on RIL’s artificial intelligence (AI) strategy will be closely tracked. The Street will also be watching for updates on the much-anticipated Jio IPO, which could be a key value-unlocking trigger for investors.
CLSA on Monday said Reliance’s FY25 annual report highlighted its accelerated home connection adoptions driven by AirFiber, making it confident of reaching 10 crore homes through a combination of Fiber and AirFiber. "Any hints on the timeline for Jio’s IPO and further details on its AI strategy in the AGM will be closely tracked by investors," it said.
Analysts noted that RIL’s is targeting to double its business by 2030, focusing on JIO and Retail in the next three to four years, and expanding the new energy (NE) sector to replicate Oil to Chemicals (O2C) earnings. A broader commentary on the same would be tracked keenly, they said. The progress in new energy and commentatry on petchem expansion will also be keenly watched, they said.
Flow-through of recent tariff hike for Jio, recovery in retail's growth momentum and Jio Airfiber-led positive momentum in broadband subscribers should drive improvements. Start of new energy projects and possible IPO of Jio are other triggers over next 12-15 months, CLSA said while suggesting a 12-month target of Rs 1,650 on the stock.
JPMorgan said RIL’s relative valuations appear reasonable despite its year-to-date outperformance. The implied holding company discount available on Jio and Retail remains elevated, it said, adding that better O2C margins, potential tariff increases and improved retail growth could help, as the foreign brokerage maintained overweight on the stock with a target of Rs 1,695.
Jefferies' base case target for RIL is Rs 1,670. In its upside scenario of Rs 1,900, it sees possible public listing of Jio, faster-than-expected recovery in petchem margins, gain in Reliance Retail market share and faster consolidation in telecom, leading to tariff upside.
Meanwhile, UBS today resumed coverage on Reliance Industries Ltd (RIL) with a 'Buy' rating and a target price Rs 1,750 apiece, as it expects the Mukesh Ambani stock to perform well over the next 12 months, following a period of underperformance over MSCI India. The optimism is on account of the group's earnings transformation of last five years, which UBS believes has opened the path towards value unlocking.
Foreign brokerages have turned optimistic on Reliance Industries Ltd (RIL) ahead of its 48th annual general meeting (AGM) scheduled for Friday, August 29, 2025, at 2:00 PM. Analysts said the company’s AirFiber is fueling strong growth in home broadband connections, adding further details on RIL’s artificial intelligence (AI) strategy will be closely tracked. The Street will also be watching for updates on the much-anticipated Jio IPO, which could be a key value-unlocking trigger for investors.
CLSA on Monday said Reliance’s FY25 annual report highlighted its accelerated home connection adoptions driven by AirFiber, making it confident of reaching 10 crore homes through a combination of Fiber and AirFiber. "Any hints on the timeline for Jio’s IPO and further details on its AI strategy in the AGM will be closely tracked by investors," it said.
Analysts noted that RIL’s is targeting to double its business by 2030, focusing on JIO and Retail in the next three to four years, and expanding the new energy (NE) sector to replicate Oil to Chemicals (O2C) earnings. A broader commentary on the same would be tracked keenly, they said. The progress in new energy and commentatry on petchem expansion will also be keenly watched, they said.
Flow-through of recent tariff hike for Jio, recovery in retail's growth momentum and Jio Airfiber-led positive momentum in broadband subscribers should drive improvements. Start of new energy projects and possible IPO of Jio are other triggers over next 12-15 months, CLSA said while suggesting a 12-month target of Rs 1,650 on the stock.
JPMorgan said RIL’s relative valuations appear reasonable despite its year-to-date outperformance. The implied holding company discount available on Jio and Retail remains elevated, it said, adding that better O2C margins, potential tariff increases and improved retail growth could help, as the foreign brokerage maintained overweight on the stock with a target of Rs 1,695.
Jefferies' base case target for RIL is Rs 1,670. In its upside scenario of Rs 1,900, it sees possible public listing of Jio, faster-than-expected recovery in petchem margins, gain in Reliance Retail market share and faster consolidation in telecom, leading to tariff upside.
Meanwhile, UBS today resumed coverage on Reliance Industries Ltd (RIL) with a 'Buy' rating and a target price Rs 1,750 apiece, as it expects the Mukesh Ambani stock to perform well over the next 12 months, following a period of underperformance over MSCI India. The optimism is on account of the group's earnings transformation of last five years, which UBS believes has opened the path towards value unlocking.