Morgan Stanley upgrades Reliance, cites downstream expansion, telecom outlook

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Mumbai | Published: March 31, 2015 2:01:13 PM

Morgan Stanley has upgrades Reliance Industries Ltd to "overweight" from "underweight", citing confidence about the conglomerate's downstream projects and improving outlook for telecoms business.

morgan stanely, morgan stanely India, morgan stanely Mumbai, Reliance, Reliance Industries, telecom business, telecom business in India, business, business news, business news india, indian marketMorgan Stanley said it expected earnings to grow 50 percent over the fiscal years 2015 to 2018.  (Reuters)

Morgan Stanley has upgrades Reliance Industries Ltd to “overweight” from “underweight”, citing confidence about the conglomerate’s downstream projects and improving outlook for telecoms business.

Morgan Stanley said it expected earnings to grow 50 percent over the fiscal years 2015 to 2018.

The investment bank has also raised the target price on the stock to 1,062 rupees from 922 rupees.

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