Shares of Aditya Birla Group’s flagship Grasim Industries Ltd. were trading in the green on Thursday, July 10, after declining in four of the last seven sessions.Global brokerage firm Morgan Stanley has an ‘Overweight’ rating on Grasim with a price target of ₹3,500 per share, implying a potential upside of 25% from Wednesday’s closing price.
Grasim is also Morgan Stanley’s top pick. The brokerage wrote in its note that Grasim has multiple opportunities playing out that could lift share price in medium term:
1) Further value unlocking in the paints business
2) Strong earnings compounding at UltraTech Cement (UTCEM)3) New-age businesses scaling up fast
Grasim is also Morgan Stanley’s top pick. The brokerage wrote in its note that Grasim has multiple opportunities playing out that could lift share price in medium term:
1) Further value unlocking in the paints business
2) Strong earnings compounding at UltraTech Cement (UTCEM)3) New-age businesses scaling up fast
4) Holdco discount continue to moderate
Of the nine analysts covering Grasim, seven have a ‘Buy’ rating, while one each has a ‘Hold’ and a ‘Sell’. Morgan Stanley’s target is currently the highest among brokerages.
At last check, Grasim shares were trading flat at ₹2,804.40. The stock is up 15% year-to-date.
