Morgan Stanley sees $20 bn boost for reliance from China reforms

Reliance Industries gained after Morgan Stanley said it could benefit by $20 billion from China's industrial reforms and its own restructuring. Lower energy costs and solar supply chain gains may lift FY28 earnings 17%. The brokerage raised Reliance's price target to ₹1,701, while upcoming catalysts like the Jio IPO and retail expansion further strengthen its outlook.