Grasim Industries shares surge over 4% after Morgan Stanley upgrade, sees 29% upside on UltraTech tailwinds

Grasim Industries surged 4.4% on Tuesday after Morgan Stanley upgraded the stock to ‘Overweight and raised its target price to Rs 3,500, implying a 28.5% upside. The brokerage also named it a “top pick,” citing strong prospects in the paints segment, which has exceeded expectations since launch, and highlighted multiple growth opportunities driving long-term value.