Shares of Nifty50 heavyweight Reliance Industries Ltd. gained over 2% in Tuesday’s trade, September 2, after global brokerage Morgan Stanley reiterated its ‘Overweight’ rating on the stock. The brokerage has a price target of ₹1,701 per share.The brokerage wrote in its note that “anti-involution” trends and the rise of artificial intelligence will reshape Reliance’s equity story. It said Reliance stands to be the biggest beneficiary of China’s anti-involution push across the energy and solar supply chains.
Morgan Stanley further pointed out that the company’s own “self-anti-involution” strategies in consumer retail and telecom are starting to deliver results.
The brokerage estimates that involution-related gains could add around $20 billion to Reliance’s net asset value (NAV) and contribute 17% to its FY28 earnings per share (EPS). It has also raised its new energy NAV estimate by 20% to $25 billion for FY27.Among the 37 analysts covering Reliance Industries, 34 have a ‘Buy’ recommendation and one has a ‘Hold’.
At present, RIL shares are trading 2% higher at ₹1,381. The stock has climbed 13% so far this year.
