Shares of Reliance Industries traded largely flat around the ₹1,400 mark on Monday after slipping nearly 2 per cent in early trade amid broader market weakness. The stock witnessed volatile movement through the session, fluctuating between ₹1,370 and ₹1,413.30 after opening lower at ₹1,375 compared with the previous close of ₹1,404.80.
Reliance Industries stock movement today
Despite the initial decline, investors showed selective buying interest at lower levels, helping the heavyweight stock stabilise around its key psychological mark.
Morgan Stanley maintained its overweight rating on Reliance with an unchanged target price of ₹1,803, citing improving prospects across its core business segments.
Morgan Stanley highlighted that the company’s diversified crude sourcing strategy among global refiners further strengthens its operational resilience and cost efficiency.
The brokerage also pointed to an ongoing recovery in the chemical cycle, which could improve profitability in the petrochemicals segment. Access to competitively priced US ethane and availability of internal naphtha were cited as additional supportive factors for margins.
Morgan Stanley expects Reliance’s earnings for FY27 could witness a 6 to 8 per cent uplift driven by stronger performance across refining and chemicals businesses.
It added that the stock is currently trading at a valuation discount compared with domestic peers across multiple verticals, offering favourable risk-reward for long-term investors.