** Brokerages Morgan Stanley and Citi see Grasim GRAS.NS unit Aditya Birla Renewables's acquisition of Sprng Energy owner Solenergi Power positively

** GRAS stock last down 1.13% at 3108.8 rupees

** Citi ("buy", PT 3600 rupees) says that transaction provides Aditya Birla Renewables with opportunity to expand RE footprint through acquisition

** Citi also flags that stock could react negatively as Grasim is to raise debt, which might impact co's leverage

** Morgan Stanley ("overweight", PT 3900 rupees) says deal allows co to hit ~10 GWp target well ahead of time

** Brokerage adds that acquisition is "timely bet" on India's energy security agenda

** GRAS rated "buy" or "strong buy" by all 9 analysts covering stock; median PT is 3600 rupees - data compiled by LSEG

** Stock up ~10%, YTD