RELIANCE INDUSTRIES

set to emerge as the largest beneficiary of China’s efforts to curb overcapacity across industries, according to a note by Morgan Stanley. The brokerage said RIL’s own restructuring efforts and China’s focus on “anti-involution” — measures aimed at reducing cutthroat competition and excess capacity — together create a powerful growth opportunity for the conglomerate. Morgan Stanley retained its overweight rating on Reliance and raised its 12-month price target to ₹1,701 from ₹1,602, signalling a potential upside of 24.4 percent from Tuesday's close. The brokerage highlighted that the market was assigning “near zero value” to the company’s new energy and artificial intelligence (AI) investments, and pricing in only limited upside in its fast-moving consumer goods (FMCG) business. Lets see what comes up ahead for this company.