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RIL shares gain after AG meeting, Morgan Stanley boost
Reliance Industries's stock jumped over 2% on Tuesday, bouncing back from recent dips.
The boost came right after the company's Annual General Meeting, where leaders shared new plans for growth in AI and consumer goods.
A thumbs-up from Morgan Stanley also played a big part in the rally.
Target prices set at ₹1,670 and ₹2,200
Morgan Stanley pointed out that China's push to fix energy overcapacity could help Reliance cut its energy costs by 40% by 2030, with clean energy set to make up a bigger chunk of profits.
Meanwhile, Jefferies sees big things ahead for Reliance's Jio, retail, and energy businesses—setting a target price of ₹1,670 thanks to rising revenues and broadband growth.