Reliance Industries shares have potential to create up to $100 billion wealth - Morgan Stanley’s big prediction of Mukesh Ambani-led RIL

Global brokerage firm Morgan Stanley forecasts significant growth for Reliance Industries (RIL), led by Mukesh Ambani, predicting a potential market capitalisation increase of $60-100 billion. The firm sets a base case target price of Rs 3,540 per share. This growth is driven by RIL's investments in new energy, retail expansion, and repurposing of existing energy businesses. Morgan Stanley anticipates a 12% EPS CAGR over F24-F27 and expects RIL's ROE to exceed its cost of capital. Recent telecom tariff hikes, oil prices, and refining margins have led to increased EPS estimates. RIL shares have surged over 8% in the past week, reaching record highs.