Reliance Industries (RIL) shares surged 2% in early morning trade after Morgan Stanley reiterated its overweight rating on the stock, with a target price of ₹1,701. The brokerage highlighted that RIL’s equity story is being reshaped by its exposure to “anti-involution” themes and artificial intelligence initiatives.
According to Morgan Stanley, RIL is set to benefit significantly from China’s anti-involution policies across energy and solar supply chains. Domestically, the company’s own “self anti-involution” measures in consumer retail and telecom are showing strong results in both scale and profitability.
The brokerage estimated that involution-linked opportunities could add approximately $20 billion in net asset value, potentially contributing 17% to FY28 estimated earnings per share. Additionally, Morgan Stanley raised its new energy NAV estimate by 20% to $25 billion by FY27, citing the rapid scaling of RIL’s solar and battery manufacturing projects.
Reliance Industries shares were up 1.99% at ₹1,380.90 apiece around 9.54 am. It has jumped 13.07% this year, so far.
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