Jefferies assigns value between ₹134-224 for Jio Financial Services; sees it listing by Sept 2023

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

Jio Financial Services: Banks still best play, says Macquarie

According to a recent report by Macquarie Research, JFS could become India’s fifth-largest financial services firm on listing.  It further pointed out that the Reliance firm can disrupt the payments business and become a threat to other fintech models.

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Jefferies assigns value between ₹134-224 for Jio Financial Services; sees it listing by Sept 2023

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