Morgan Stanley, Citi bullish on Grasim unit's Sprng Energy parent buy

Grasim Industries

14/07/2026 06:41

     ** Brokerages Morgan Stanley and Citi see Grasim GRAS.NS unit Aditya Birla Renewables's acquisition of Sprng Energy owner Solenergi Power positively
** GRAS stock last down 1.13% at 3108.8 rupees
** Citi ("buy", PT 3600 rupees) says that transaction provides Aditya Birla Renewables with opportunity to expand RE footprint through acquisition
** Citi also flags that stock could react negatively as Grasim is to raise debt, which might impact co's leverage
** Morgan Stanley ("overweight", PT 3900 rupees) says deal allows co to hit ~10 GWp target well ahead of time
** Brokerage adds that acquisition is "timely bet" on India's energy security agenda
** GRAS rated "buy" or "strong buy" by all 9 analysts covering stock; median PT is 3600 rupees - data compiled by LSEG
** Stock up ~10%, YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))