Jio Platforms marks debut as brokerages split on RIL at ₹1,158

Jio Platforms Limited marked its stock market debut on the exchanges with a bell-ringing ceremony, in the same trading stretch that has the RIL share price in focus on Dalal Street. Reliance Industries shares last traded at ₹1,158, The Economic Times said, and the stock sits in the list of names to watch as traders take a position on whether the Sensex and Nifty open higher or lower, India Today reported.

The immediate driver is the company’s Q2 results and the brokerage notes that landed in their wake. The three big calls on the stock point in different directions, and the spread between them captures how uneven the Q2 picture really is for the RIL share price. Strong refining earnings have started to power a recovery, while retail profitability remains under pressure. Livemint lays out the question facing investors in plain terms: buy, sell or hold a stock that has returned 384% in 10 years.

That decade-long gain has turned every fresh target into a test of whether the next leg comes from one division or needs several. The latest set of estimates, circulated after the Q2 print, has Goldman Sachs carrying the most aggressive number on the street for Reliance Industries.

Strong refining earnings, soft retail margins

Moneycontrol describes the stock outlook as bullish on the strength of O2C results, the oil-to-chemicals division posting the kind of earnings that pull a group-level forecast upward. The Financial Express ties the same numbers to the recovery theme, reporting that strong refining earnings have begun to show through in Reliance’s profit trend and have boosted its recovery prospects.

The contrast sits in the same quarterly print. Retail, the division that has anchored the group’s earnings narrative, is under pressure on margins, and that single line explains why one of the three major desks refused to join the upside call. The street is not split on what happened in refining. It is split on whether the recovery can spread.

The targets on the table

Three estimates circulated after the Q2 results frame the debate.

Each figure starts from the same ₹1,158 last-traded price and reaches a different destination. The Financial Express attributes the split to a split in the business itself, with refining beating expectations and retail missing stride.

The targets surfaced in the immediate aftermath of the Q2 results, CNBC TV18 reported, as analysts revisited their estimates for the group’s units. Those numbers, rather than any fresh operating update, are the day’s news flow.

Jio Platforms rings the debut bell

The bell-ringing ceremony formally opens trading in the digital arm as a listed name, giving investors a standalone line onto the Jio business even as the parent’s stock dominates the broker notes. Jio’s growth has steadied, Moneycontrol reported, consistent enough that analysts keep citing it alongside O2C results as the second leg of the bullish case.

Livemint’s buy-sell-hold rundown also reminded investors what a decade on this stock has meant: a 384% return that colours every fresh recommendation. The fresh targets are being read against that record, with the two upside cases implying the next leg needs refining strength to hold and retail to heal.

What ₹1,158 is asked to do

With the stock in focus for the day’s session, India Today noted, today’s trade will say which reading of the Q2 print the opening order flow picks up. If O2C strength and steady Jio growth keep carrying the story, the path lies between 47% and 58%, the two upside calls. If retail margins stay squeezed, Nomura’s trimmed target is the number that does the work.

Until the Sensex and Nifty make their opening move, every fresh order sits against the ₹1,158 last-traded price.

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Rohan Menon

Rohan Menon covers business, personal finance, markets, startups and economic developments. He breaks down complex financial and business topics into clear, easy-to-understand stories for a general audience.

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