Morgan Stanley Predicts Reliance Industries Re-Rating

Morgan Stanley, a big investment company, thinks Reliance Industries (RIL) will do much better in the next few years.

They say RIL will make a lot of money from its energy, consumer, and telecom businesses all at the same time, which hasn't happened before.

Morgan Stanley believes RIL's refining business is very strong and will make a lot of money.

They also think RIL's telecom business, Jio, will make more money as it grows and offers new services.

The company is also investing in new areas like AI and energy storage.

Morgan Stanley has set a target price of Rs 1,847 for RIL's stock and thinks it will do well in 2026.

They expect RIL to have a 'golden age' for refining, creating $7 to $10 billion in value.

RIL's margins have decreased, but Morgan Stanley thinks they will rise by 10-15% by the end of 2026.

RIL is also improving its margins by increasing imports of cheap US ethane feedstock and expanding PVC capacity in India.