Morgan Stanley upgrades Reliance Infrastructure to equal weight, stock up - NDTV

NDTV | Updated On: April 23, 2013 10:41 (IST) Morgan Stanley has upgraded Reliance Infrastructure to 'overweight' from 'equal weight', citing favorable risk reward at the current levels. It has set a 12-month target price for the stock at Rs 489. The price to book multiples are at all-time lows with the stock trading at a  more than 50 per cent discount to its three-year average, the investment bank said. The deal between Anil Ambani-owned Reliance Communications and Mukesh Ambani-owned Reliance Industries may improve sentiment around Reliance Infrastructure, according to Morgan Stanley Under the deal terms, RIL will pay Rs. 1,200 crore to younger brother RCom for use of its fibre optic network. At 10.36 am, the Reliance Infrastructure stock traded at Rs 385.25, up 0.68 per cent, on the Bombay Stock Exchange. The benchmark Sensex was down 0.23 per cent. For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFLq1U6GZSjLEi5TvjSnVuDsP0d6A&url=http://profit.ndtv.com/news/market/article-morgan-stanley-upgrades-reliance-infrastructure-to-equal-weight-stock-up-321274

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