The Securities and Exchange Board of India (Sebi) on Friday proposed a revamp of the way stockbrokers calculate their variable net worth, seeking to align capital requirements with actual business risks and client scale. Currently, variable net worth is linked to 10% of the average daily client cash balance retained by brokers.

However, with the introduction of an upstreaming framework under which clients’ funds are up-streamed by brokers to clearing corporations, there is a minimal amount of cash balance of clients which is retained by a stockbroker, the regulator said.

“In view of the same, the calculation based on the availability of funds with stockbrokers may not be an effective way of calculating variable net worth,” Sebi said in a discussion paper.

The regulator has proposed a more comprehensive, risk-based approach. It said, variable net worth would be computed as an aggregate of two key components: a portion linked to client funds and another tied to the size of the client base.

The first component would require brokers to maintain 10% of the average credit balance of all clients over the previous six months. The second introduces slabs based on the number of active clients. Brokers with 10,000 to 50,000 direct clients would need an additional ₹50 lakh, with further increments for every additional 50,000 clients.
Besides, graded requirements have been proposed for clients onboarded through authorised persons.

AUSTIN, Texas — Tesla Inc. remains one of the most fiercely debated stocks on Wall Street in 2026, with analysts split between those urging investors to buy shares of the EV and AI pioneer for its long-term robotaxi and Optimus potential and those warning of overvaluation and slowing core auto demand as the company trades near record levels.

As of late April 2026, Tesla shares hover around $376 after a volatile start to the year. Wall Street’s consensus rating stands as a Hold, with 41 analysts offering an average 12-month price target near $398–$406 — implying modest single-digit upside from current levels. Targets range dramatically, from as low as $25 (bearish outlier) to $600 (bullish calls from Wedbush’s Dan Ives).

The bull case centers on Tesla’s leadership in autonomy and energy. Q1 2026 results showed revenue of roughly $22.4–$22.9 billion, with paid Robotaxi miles nearly doubling sequentially. Elon Musk confirmed Cybercab pilot production is underway at Giga Texas, with volume ramp expected later in the year. Unsupervised Robotaxi operations expanded to Dallas and Houston in April, with plans for a dozen states by year-end.

Musk and supporters argue 2026 will be a defining year as Full Self-Driving (Supervised) subscriptions grow, energy storage scales, and Optimus humanoid robots move closer to commercialization. Optimistic forecasts see Tesla’s valuation expanding dramatically if robotaxi revenue materializes at scale, with some models projecting multi-trillion-dollar potential.

Bears counter that the core EV business faces softening demand, rising competition from Chinese manufacturers, and margin pressure. Analysts note high capital expenditure needs (Musk raised 2026 capex guidance above $25 billion for AI and Robotaxi), execution risks on Cybercab ramp, and the stock’s premium valuation leaving little room for error. Some forecasts see limited growth if autonomy timelines slip further.

Consensus among roughly 40–60 analysts leans Hold, with roughly 18 Buy, 15 Hold, and 8 Sell ratings. The wide dispersion reflects deep uncertainty around the timing and profitability of Tesla’s non-auto bets.

For long-term growth investors, the case for buying Tesla centers on its positioning at the intersection of AI, energy and robotics. Strong brand loyalty, vertical integration, and a massive data advantage in autonomy provide a moat few competitors can match. Patient capital sees current levels as reasonable given the transformative potential of robotaxis and Optimus.

Shorter-term or more conservative investors may prefer caution. Tesla’s high multiple leaves it vulnerable to any disappointment in delivery growth, margin trends or regulatory hurdles for unsupervised autonomy. Macro risks, including interest rates and EV adoption curves, add volatility. Many recommend waiting for clearer evidence of robotaxi revenue or meaningful pullbacks.

Institutional ownership remains elevated, and retail enthusiasm stays high, fueled by Musk’s vision and periodic product announcements. Options activity shows bullish tilt overall, though implied volatility reflects ongoing uncertainty. The stock has delivered extraordinary long-term returns but experienced sharp drawdowns along the way.

Tesla’s 2026 trajectory will likely hinge on successful Cybercab production scaling, FSD regulatory approvals, energy storage growth and Optimus progress. Positive developments on these fronts could drive shares significantly higher. Any delays or margin compression might trigger corrections typical of high-growth tech names.

Ultimately, whether to buy or sell Tesla in 2026 depends on individual risk tolerance, time horizon and conviction in the AI and autonomy secular trend. Growth-oriented investors comfortable with volatility generally view it as a Buy for multi-year portfolios. More conservative investors may opt to Hold existing positions or wait for better entry points. Most advisors recommend thoughtful position sizing within a diversified portfolio.

As the AI and energy transition accelerates, Tesla stands as one of the purest and most ambitious plays on these megatrends. With strong execution history under Musk, expanding addressable markets and multiple growth catalysts, the company offers significant potential for believers — even after years of spectacular gains. The central debate is not whether Tesla will grow, but how much the market is willing to pay today for tomorrow’s promised breakthroughs.

This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day.

Please don’t leave political comments on other articles or posts on the site.

The comments below are not regulated with the same rigor as the rest of the site, and this is an ‘enter at your own risk’ area as discussion can get very heated. If you can’t stand the heat… you know what they say…

More on Today’s Markets:

Moderation Guidelines:

We remove comments under the following categories:

• Personal attacks on another user account
• Anti-Vaxxer or covid related misinformation
• Stereotyping, prejudiced or racist language about individuals or the topic under discussion.
• Inciting violence messages, encouraging hate groups and political violence.

Regardless of which side of the political divide you find yourself, please be courteous and don’t direct abuse at other users.

For any issue with regards to comments please email us at : moderation@seekingalpha.com.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

LOS ANGELES — Luka Doncic has not fully recovered from his Grade 2 left hamstring strain and remains sidelined indefinitely, with the Los Angeles Lakers not expecting their superstar to return during the first round of the 2026 playoffs against the Houston Rockets, though he has begun progressing toward on-court activity.

The 27-year-old suffered the injury on April 2 during a blowout loss to the Oklahoma City Thunder. An MRI confirmed the partial tear, ruling him out for the remainder of the regular season. While standard recovery timelines for a Grade 2 hamstring strain typically range from four to six weeks, the Lakers are proceeding with extreme caution to avoid re-aggravation that could sideline him for the rest of the postseason.

As of April 24, Doncic has not yet begun full on-court work but is expected to start soon, according to head coach JJ Redick. He has been participating in light non-contact activities such as shooting, rebounding and passing drills. Redick described progress as positive but offered no firm timeline, reiterating that both Doncic and Austin Reaves (oblique strain) are “out indefinitely.”

Medical experts and team insiders suggest the most realistic target for Doncic’s return is the second round of the playoffs, assuming the Lakers advance. Some optimistic scenarios, fueled by specialized treatment he received in Europe (reportedly including PRP injections and stem cell therapy), point to a possible return in 3–4 weeks from the injury date — potentially aligning with early May if the series extends. However, the Lakers are sticking to a conservative approach.

A recent study on similar hamstring injuries treated with advanced injections showed athletes returning approximately nine days faster than conventional methods (23.5 days versus 32.4 days on average). Even with this accelerated protocol, full recovery and game readiness remain weeks away. Physical therapists note that rushing a Grade 2 strain often leads to setbacks, with recurrence rates dropping significantly when proper healing time is respected.

Doncic’s absence has forced LeBron James and the supporting cast to carry a heavier load. The Lakers have managed a 2-0 series lead over the Rockets despite missing two key starters, showcasing impressive depth. Redick has praised the team’s resilience while emphasizing patience with star recoveries.

The Slovenian star, acquired by the Lakers in a major offseason move, was having an MVP-caliber season before the injury, leading the league in scoring. His playmaking, scoring and size create unique matchup problems that no other player replicates. His return, whenever it occurs, would dramatically shift the Lakers’ ceiling in the Western Conference.

Fan frustration and optimism mix on social media. Many express understanding for the cautious timeline while anxiously awaiting any positive update. Kalshi traders currently give Doncic just a 24% chance of returning before May 4, reflecting the conservative outlook from the organization.

The injury occurred late in the regular season, forcing the Lakers to navigate final games and secure playoff positioning without their primary offensive engine. Despite the setback, Los Angeles earned a favorable first-round matchup. Medical staff continue daily monitoring, with progress reports focusing on pain-free movement, strength testing and gradual ramp-up in intensity.

Broader implications stretch beyond this series. A healthy Doncic transforms the Lakers into legitimate title contenders. His absence has tested the supporting cast’s resilience, with James shouldering extra minutes. The team’s ability to win without him boosts confidence but also underscores the need for his eventual return.

Doncic’s history with hamstring issues adds another layer of caution. He dealt with a milder strain earlier in the season. This Grade 2 tear represents a more significant setback, but his youth, conditioning and access to cutting-edge treatment provide reasons for optimism in a full recovery.

As the series shifts to Houston for Game 3 on Friday, all eyes remain on the injury report. While no immediate update points to Doncic playing soon, incremental progress toward on-court work signals the beginning of his return journey. The Lakers will continue their series push without him in the immediate future, building momentum while their franchise cornerstone prepares for a calculated comeback.

Management of the injury reflects lessons from past high-profile cases across the league. Protecting star players from premature returns has become standard as organizations balance short-term results with long-term roster health. For Doncic, the priority is clear: heal properly to maximize impact whenever he steps back on the floor.

The basketball world watches closely. Doncic’s unique skill set makes him one of the game’s most exciting talents. His recovery process will likely shape the Lakers’ playoff fate and influence narratives around load management and star availability in today’s NBA.

For now, the answer to whether he is fully recovered remains no. But with on-court work approaching and specialized treatment completed, the timeline is moving in the right direction. The Lakers will continue their series without him in the immediate future, building momentum while their superstar prepares for a strong return.

cmp: Rs 1,135.70

target price: Rs 1,246

Prabhudas Lilladher has a ���reduce��� rating on Infosys Technologies as it feels that the outlook for the company and the software industry is quite weak in the near-term.

���While we expect Infosys to perform better than most other players in the industry, we rate the stock ���reduce��� with a target of Rs 1,246,��� says the report.

With a difficult FY10E and full-tax FY11E, the two-year earnings CAGR (FY09-11) for the company is unlikely to be over 10-15%, it adds. According to the broking house, the company���s pricing power in fresh contracts would remain under pressure as ���pricing behaviour by competition has turned aggressive in new contracts.���

While Infosys has seen some weakness in the BFSI domain in the recent past, the outfit expects this weakness to ���spread to retail and possibly the manufacturing domains as well.��� Of the various service lines, Enterprise Solutions may be worst affected over the next few quarters, according to the management, it adds. The broking house is also expecting another reduction in US dollar guidance by Infosys.

About 50,000 adjustable dumbbells sold at Walmart have been recalled after reports of injuries, federal safety officials said.

The Consumer Product Safety Commission said the FitRx SmartBell Quick-Select 5-52.5 lb. Adjustable Dumbbells, made by New York-based Tzumi Electronics, should be immediately replaced.

According to the agency, the weight plates can dislodge from the handle during use, posing an “impact hazard.”

COSTCO ISSUES URGENT RECALL ON POPULAR PRODUCT LINKED TO BURN INJURIES

The agency said it received more than 115 reports of the plates coming loose.

At least six injuries have been reported, including broken toes, bruises, contusions and lacerations.

The recalled dumbbells are model 8361 and carry serial numbers KK23288361 through KK23388361 and KK207608361 through KK21347836.

CALIFORNIA ACCUSES AMAZON OF PUSHING RIVALS TO RAISE PRICES

The dumbbells adjust from 5 to 52.5 pounds in 2.5- or 5-pound increments. They are black with red accents and include a molded plastic storage tray.

Walmart sold the dumbbells for about $100 from January through November 2024.

Consumers are advised to stop using the dumbbells immediately and contact Tzumi Electronics for a free replacement.

CLICK HERE TO GET THE FOX BUSINESS APP

Customers can mark the word “Recalled” on the tray using permanent marker or paint and register at myfitrx.com/recall-52-lbs/, the agency said.

Tzumi Electronics can also be reached at 866-363-2237 or by email at smartbellrecall@tzumi.com.

FOX Business has reached out to Walmart and Tzui Electronics for comment.

Stocks In This Article: