India's Grasim Industries rises on Morgan Stanley's bullish bet

Ultratech Cement

10/06/2025 09:24

** Shares of Grasim Industries Ltd GRAS.NS rise 4.1% to 2,714.60 rupees

** Morgan Stanley upgrades GRAS' rating to overweight" from "equal weight", raises PT to a Street-high 3,500 rupees and selects stock as the top pick in its coverage universe

** Stock is top gainer in blue-chip Nifty 50 .NSEI index

** GRAS is the holding company of Aditya Birla Group firms Ultratech Cement ULTC.NS, Birla Opus Paints, among others

** Brokerage's rating upgrade, PT raise driven by four scenarios – further value unlocking of paints business, improving earnings at ULTC, quick scale-up of newer verticals and narrowing holding company discount

** Analysts tracking stock rate it "buy" on average; median PT is 3,225 rupees - as per data compiled by LSEG

** Stock up 11% so far this year, outperforming Nifty 50's 6.3% climb

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))