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Jefferies assigns value between rupees 134-224 for Jio Financial Services

Jefferies, in a note, said that it sees Jio Financial Services (JFS) listing by Sept 2023.

The brokerage sees the value of Reliance Industries' JFS between rupees 134-224.

It also raised RIL's target to rupees 3,100, implying a potential upside of 33%. 

RIL stock trades near our bear case valuation and offers favorable risk-reward, it said.

JFS has a net worth of about 28,000 cr and holds a 6.1% stake in RIL, which is worth over 96,000 cr, informed Jefferies.

RIL has lost 12% in the last 1 year and is down around 8% in 2023 YTD.

Nomura also noted that the listing from JFS in the coming months will be a key event for the stock.

As a separate entity, JioFS would be able to have higher leverage in line with industry standards, it said.

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Jio Financial Services likely to list by Sept 2023, says Jefferies

The brokerage sees the value of Reliance Industries' JFS between ₹134-224 and raises RIL's target price to ₹3,100, implying a potential upside of 33 percent.

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Jio Financial Services likely to list by Sept 2023, says Jefferies

The brokerage sees the value of Reliance Industries' JFS between ₹134-224 and raises RIL's target price to ₹3,100, implying a potential upside of 33 percent.

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