Jio valuation may jump to $190 billion by 2028, says CLSA, raises RIL target price to Rs 1,800

CLSA expects Jio Platforms’ valuation to surge toward $190 billion by 2028, driven by a potential IPO, accelerating free cash flow, 5G monetisation and subscriber growth, lifting Reliance Industries’ target price despite more cautious assumptions for retail and new energy.