Morgan Stanley has maintained its ‘Overweight’ rating on Reliance Industries with a target price of ₹3,325, representing an 18.8% upside from the current market price of ₹2,798.95. Despite ongoing cyclical challenges, particularly in the refining and retail segments, the brokerage believes these challenges are already priced into the stock.
Morgan Stanley expects a re-rating for Reliance Industries in 2025, driven by the absorption of new refining capacity and improvements in retail profitability. Additionally, the company is anticipated to benefit from new energy cashflows, which should further enhance its valuation.
Reliance Industries has also moved up to number five in Morgan Stanley’s preference order, signaling increased confidence in the company’s future growth prospects.
Disclaimer: This information is for informational purposes only and should not be considered as investment advice.
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