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Multiple re-ratings & upgrades for RIL in 2026: Morgan Stanley
Financial Express Kolkata
|December 18, 2025
RIL'S INVESTMENTS OF $80 billion across key verticals since the pandemic will start delivering returns from 2026, Morgan Stanley said on Wednesday.
The brokerage expects a re-rating and earnings upgrades of Reliance Industries (RIL), to be triggered in every quarter in 2026 - the refining up-cycle in Q1, an ARPU hike and retail top line growth in Q2, ramp-up of new energy in Q3, and a recovery in chemicals confidence by Q4.
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