Overview

• Morgan Stanley upgraded Grasim to Overweight from Equalweight and implied a 36% upside from current levels.
• Grasim’s stock climbed about 3% in early trade, extending year-to-date gains to over 10%.
• Birla Opus Paints filed a complaint with the Competition Commission of India accusing Asian Paints of anti-competitive practices.
• The company concluded a fully paid, unsecured Rs1,000 crore non-convertible debenture issuance to strengthen its balance sheet.
• Analysts highlighted rapid scaling in Grasim’s B2B e-commerce and renewables businesses alongside Ultratech Cement’s multi-year earnings potential.