Key facts
- Morgan Stanley continues to favor Reliance Industries as a top pick.
- The brokerage maintained an underweight stance on Oil India.
- Motilal Oswal remains bullish on Mahanagar Gas due to demand and volume growth prospects.
Brokerages are adopting a selective approach to India's energy sector, prioritizing companies with strong growth drivers and attractive valuations. Morgan Stanley has reiterated its positive outlook on Reliance Industries, highlighting its potential for long-term value creation across its energy transition and chemicals businesses. Concurrently, the firm is maintaining an underweight rating on Oil India. Meanwhile, Motilal Oswal expresses a bullish sentiment towards Mahanagar Gas, citing expectations of robust demand and volume growth.