Reliance Shares Soar: Morgan Stanley Names RIL 'Top Pick' with 28% Upside

• Morgan Stanley maintains 'Overweight' rating on RIL, setting a target of Rs 1,803 per share, indicating a 28% upside.
• Reliance plans a massive 10 trillion rupees investment in AI, digital infrastructure, and energy supply over seven years.
• The investment includes multi-gigawatt AI-ready data centers, supported by 10 GW renewable energy and chip infrastructure.
• Brokerage estimates the first 1-gigawatt phase of AI infrastructure could require $12-15 billion in capital expenditure.
• Proposed 'Intelligence' business is projected to yield higher returns than previous investments, with over 12% post-tax ROCE.