Reliance Industries: Jefferies Sees ‘Extreme Pessimism’ Despite Long-Term Potential

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' stock has dropped 25% from its peak, with Reliance Retail's implied market cap falling to $48 billion from $106 billion. Jefferies notes concerns over job cuts and slowed expansion ahead of its IPO but maintains a ‘buy’ rating with a ₹1,660 target, citing potential recovery in retail, Jio’s listing, and improved oil-to-chemical profitability.