Morgan Stanley upgrades Reliance Industries Ltd ( RIL) to 'equal-weight' from 'underweight', maintaining its target price at Rs703, citing attractive valuations.
Despite Morgan Stanley's 'unconstructive' view on RILs core business, bank says RIL is trading at multi-year lows, making its valuations 'compelling.'
The energy conglomerate's ongoing buyback programme is also gaining momentum, Morgan Stanley says, seeing little downside for the stock.
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Despite Morgan Stanley's 'unconstructive' view on RILs core business, bank says RIL is trading at multi-year lows, making its valuations 'compelling.'
The energy conglomerate's ongoing buyback programme is also gaining momentum, Morgan Stanley says, seeing little downside for the stock.
....more info