Earlier, Morgan Stanley had downgraded the stock to 'underweight' from 'equal-weight.'
Reliance Industries had on Monday reported 5.7 per cent drop in net profit in the second quarter at Rs 5,376 crore (Rs 53.76 billion) because of fall in revenue from oil and gas operations and refining business.
India expands more than China in Jul-Sep: HSBC
Analysts turn BULLISH on Reliance
Jayawardene wary of Morgan, Wright in key tie
Morgan Stanley LOWERS India's growth forecast to 5.1%
HSBC raises Re forecast to Rs 52/USD by Dec end