Citi hikes PT for India's Reliance Industries on Jio, consumer products arm boost
ReutersDec 3, 2025 6:10 AM
Citi raises price target on India's Reliance Industries RELI.NS to 1,805 rupees from 1,548.50 rupees
Brokerage cites higher valuation for Jio, implying an increase in its enterprise value to $145 bln from $135 bln, per Citi estimates
Citi also accounts for an addition of 63 rupees per share as contribution to its revised PT for RELI based on its 84% stake in Reliance Consumer Products after completion of its demerger from Reliance Retail Ventures
Says RELI remains "top pick" in its India oil and gas coverage universe, while maintaining "buy" rating
RELI trading 0.8% lower at 1,534.20 rupees on the day
Avg rating from 34 analysts on RELI at "buy"; median PT is 1,685 rupees - data compiled by LSEG
Stock up 26% YTD
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