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Adani Power or NTPC? Macquarie initiates coverage on 3 power stocks, hikes target prices for 3 others

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Adani Power or NTPC? Macquarie initiates coverage on 3 power stocks, hikes target prices for 3 others
While much of India grapples with soaring temperatures, shareholders of power companies are benefiting from rising electricity demand. International brokerage Macquarie says India’s power sector is undergoing a broad-based regulatory and operational reset across generation, transmission and distribution.

Macquarie initiated coverage on JSW Energy with an ‘Outperform’ rating and a target price of Rs 720 per share, implying an upside potential of more than 28% from the stock’s previous close.

The brokerage also initiated coverage on Adani Power and Adani Energy Solutions with ‘Neutral’ ratings. It assigned a target price of Rs 230 per share to Adani Power, implying an upside of about 4%, and Rs 1,450 per share to Adani Energy Solutions, implying a downside of around 6%.

NTPC emerged as Macquarie’s top pick in the sector, followed by JSW Energy, Power Grid, Adani Green, Adani Power and Adani Energy Solutions. The brokerage raised its target price on NTPC to Rs 480 per share, indicating an upside potential of 36.5% from the previous closing price.

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Macquarie also sees strong upside in Power Grid, raising its target price to Rs 400 per share, implying upside potential of about 39%. It also increased its target price for Adani Green to Rs 1,700 per share, indicating an upside of nearly 15%.

India’s power sector is undergoing dual-track evolutions

According to Macquarie, India’s power sector is evolving along two parallel tracks — coal continues to anchor baseload stability, while renewables drive incremental capacity growth.


This transition is expected to support an expansion in installed capacity from 538 GW currently to 900 GW by FY32. However, achieving this scale will require rapid deployment of 74 GW of energy storage to manage intermittency and meet peak evening demand.
“Peak power demand touched a record 271 GW in May 2026, leaving minimal supply headroom and highlighting grid stress despite adequate base capacity,” Macquarie noted.The Central Electricity Authority (CEA) expects power demand to grow at a 6% CAGR through 2030, supported by strong industrial activity, which accounts for roughly half of demand, structurally rising cooling requirements contributing more than 20% of incremental growth, and emerging high-load segments such as data centres and electrified transport.

Macquarie believes this will intensify pressure across both generation and transmission infrastructure.

The brokerage expects India to enter a transmission-led capex cycle, with an estimated US$51 billion investment requirement through FY36 to bridge the geographic mismatch between renewable-rich states and major consumption centres.

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It also highlighted a structural execution gap: generation assets can typically be built in 12–18 months, while transmission infrastructure often takes 36–48 months, necessitating proactive corridor development.

Grid curtailment remains a key risk. Macquarie pointed to the loss of 2,300 GWh in late 2025, when midday solar generation exceeded the grid’s absorption capacity.

Indian discoms on the path to recovery

Macquarie also noted that India’s distribution companies (discoms) are showing signs of recovery, supported by RDSS-led investments and smart metering initiatives.

Improved billing efficiency, lower leakages and a reduction in overdue payments under the Late Payment Surcharge (LPS) mechanism indicate materially stronger financial health than in previous years, it said.

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The brokerage added that regulatory tailwinds remain supportive.

“The Draft National Electricity Policy 2026 signals a fundamental shift toward market-based systems, repositioning coal as a flexible balancing resource rather than a rigid baseload source. Legislative reforms such as the Electricity (Amendment) Bill 2026 and the Digital India Energy Stack aim to improve discom finances and enable peer-to-peer electricity trading,” Macquarie said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Elon Musk's stratospheric rise to trillionaire status – in charts

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Elon Musk's stratospheric rise to trillionaire status - in charts

The BBC breaks down how the tech mogul’s fortune has grown.

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Knicks Capture First NBA Title in 53 Years as Jalen Brunson Delivers Historic 45-Point Game 5 Performance

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Jalen Brunson

SAN ANTONIO — The New York Knicks ended a 53-year championship drought on Saturday night, defeating the San Antonio Spurs 94-90 in Game 5 of the NBA Finals to claim their first title since 1973. Jalen Brunson led the way with a Finals-record 45 points, earning Finals MVP honors in a series-clinching performance that captivated fans across the basketball world.

The Knicks won the best-of-seven series 4-1, overcoming early deficits and a resilient young Spurs team featuring Victor Wembanyama. Brunson’s heroics capped a remarkable playoff run for New York, which had not reached the NBA Finals since the early 2000s and last hoisted the Larry O’Brien Trophy in the Willis Reed era.

“I’ve got no words,” Brunson said after the game. “I don’t know what I’m feeling. I’m in awe.”

The victory triggered jubilant celebrations in New York, with the Empire State Building illuminated in orange and blue, and massive crowds gathering outside Madison Square Garden. Tens of thousands of fans had followed the team’s journey through watch parties across the city throughout the postseason.

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Brunson’s Masterclass Seals the Series

Brunson, who averaged 32.6 points per game in the Finals, delivered one of the greatest road clinching performances in NBA history. He scored 15 points in the fourth quarter alone, including crucial free throws and a driving basket that helped the Knicks regain the lead for good. The performance tied Michael Jordan for the most points scored on the road in a Finals-clinching game.

The Knicks trailed by as many as 16 points in the second quarter and were down 10 early in the fourth. But Brunson refused to let the moment slip away. Mikal Bridges contributed 14 points, Josh Hart added 13 points and 11 rebounds, and Karl-Anthony Towns grabbed 10 rebounds despite scoring only two points before fouling out.

For the Spurs, Wembanyama posted 19 points, 14 rebounds and five blocks in a valiant effort. Rookie Dylan Harper added 25 points off the bench, but San Antonio could not overcome New York’s determination and clutch execution down the stretch.

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“We weren’t ready to win an NBA championship,” Spurs coach Mitch Johnson said. “The better team won. We did a lot of good things, and we didn’t finish the job. That’s what it is.”

Dramatic Playoff Journey

The Knicks’ path to the title featured resilience and memorable moments. They rallied from a 29-point deficit in Game 4 — the largest comeback in NBA Finals history — to take a 3-1 series lead. That resilience defined their entire postseason, as they consistently found ways to respond when counted out.

Under head coach Mike Brown, the team blended veteran savvy with emerging talent. Brunson’s leadership, combined with contributions from Bridges, Hart, Towns and OG Anunoby, created a balanced roster capable of winning in multiple ways. Their defense, particularly in limiting Wembanyama’s impact at times, proved decisive.

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The Spurs, who had upset the defending champion Oklahoma City Thunder in the Western Conference Finals, showcased a bright future with their young core. Wembanyama’s defensive presence set Finals records, but experience and execution favored the more seasoned Knicks in the end.

Citywide Celebrations and Cultural Impact

The win ignited New York City. Fans poured into the streets, turning neighborhoods into sea of orange and blue. Celebrations were passionate yet mostly joyful, though authorities reported some arrests amid the chaos. Mayor Zohran Kwame Mamdani announced plans for a parade on Thursday.

The Empire State Building lighting served as a beacon for long-suffering supporters. For a franchise that endured decades of mediocrity and heartbreak, this moment represented validation and renewed hope for the future.

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High-profile fans, including Britain’s Prince Harry attending alongside NBA Commissioner Adam Silver, added to the spectacle at Frost Bank Center. The Knicks’ blue-and-orange contingent created a raucous road atmosphere despite being in enemy territory.

Historical Significance

This championship marks the third in Knicks franchise history, joining the 1970 and 1973 titles. It ends the longest active drought in the NBA for a major market team and restores glory to one of basketball’s most iconic organizations. Brunson’s ascent from Villanova standout to Finals MVP symbolizes perseverance and clutch greatness.

The series also highlighted the league’s parity and exciting young talent. Wembanyama and Harper’s performances signal a competitive future for San Antonio, while the Knicks’ victory validates their patient rebuilding strategy under team president Leon Rose.

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What Comes Next

For the Knicks, the focus shifts to sustaining success. With Brunson entering his prime and key pieces under contract, they are positioned for continued contention. Offseason moves could further bolster the roster as they defend their crown.

The Spurs will look to build around their young stars, adding veteran support and refining their approach after a promising but ultimately unsuccessful Finals run. The 2026 draft and free agency will be critical for both organizations.

As the NBA offseason begins, the Knicks’ triumph will be remembered as a landmark achievement. From overcoming early season doubts to delivering in the biggest moments, this team embodied resilience and teamwork. For fans who waited over half a century, the wait was finally worth it.

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Brunson’s legacy in New York is now etched alongside legends like Reed, Frazier and Monroe. His quiet leadership and explosive scoring carried the franchise to glory, inspiring a new generation of Knicks supporters. The 2026 NBA champions have written a new chapter in league history, proving that patience and belief can overcome even the longest droughts.

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The Fed May Have A Hawkish Surprise For Markets This Week

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The Fed May Have A Hawkish Surprise For Markets This Week

This article was written by

Michael Kramer is the founder of Mott Capital, and is a long-only investor who focuses on macro themes and studies trends and options activities to identify and assess entry and exit points for investments in his long-term focused thematic growth strategy. He is a former buy-side trader, analyst, and portfolio manager with 30 years of experience tracking market technicals, fundamentals, and options.Michael Kramer leads the investing group Reading the Markets, where he helps a devoted following of members to better understand what is driving trading and where the market is likely heading, both the short and long-term. Features of the investing group include: daily written commentary and videos analyzing the driving factors behind price action; general macro trend education to help members make well-informed decisions based on market conditions, interest rates, currency movements and how they all interact; chat for questions and community dialogue; and regular Zoom videos sessions to discuss current ideas and answer questions. The level of access RTM subscribers and the expertise of the source are unprecedented given that the subscription price is a fraction of similar technical coaching and mentoring services. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.

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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.

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Move Over, Student Debt. Medical Bills Threaten to Derail Young Adults’ Finances.

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Move Over, Student Debt. Medical Bills Threaten to Derail Young Adults’ Finances.

Move Over, Student Debt. Medical Bills Threaten to Derail Young Adults’ Finances.

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Wasatch International Opportunities Fund Q1 2026 Commentary

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Hartford International Opportunities Fund Q1 2026 Commentary

Wasatch Global Investors is a 100% employee-owned investment manager founded in 1975 and headquartered in Salt Lake City, Utah. Named after the nearby Wasatch Mountain Range, the firm brings unparalleled experience to U.S. and international micro-, small- and mid-cap investing with a culture that emphasizes collaboration, excellence and intellectual curiosity. Wasatch Global Investors is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

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Upstream Bio presents positive Phase 2 trial data for verekitug

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Upstream Bio presents positive Phase 2 trial data for verekitug

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EU Commission looking at practical consequences of Anthropic decision, spokesperson says

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EU Commission looking at practical consequences of Anthropic decision, spokesperson says


EU Commission looking at practical consequences of Anthropic decision, spokesperson says

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NYC Puerto Rican Day Parade 2026 Draws Millions with Star Honorees, 5th Avenue Route and Cultural Celebration

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NYC Puerto Rican Day Parade 2026 Draws Millions with Star

NEW YORK — New York City will pulse with Puerto Rican pride on Sunday as the 69th annual National Puerto Rican Day Parade marches down Fifth Avenue, featuring a star-studded lineup of honorees, live music, colorful floats and cultural performances that highlight the community’s enduring strength and diversity across the diaspora.

The parade, themed “We Are More Than 100×35” (“Somos Más Que 100×35”), underscores the resilience of Puerto Rico’s 3.2 million residents and the more than 5.8 million people of Puerto Rican descent living in the United States. Organizers expect millions of spectators to line the route, transforming Midtown Manhattan into a vibrant showcase of heritage, activism and unity.

This year’s event, set for Sunday, June 14, beginning at noon, continues a tradition that began in 1958. Founded on principles of cultural awareness, education and justice, the parade has grown into the nation’s largest demonstration of Puerto Rican pride, drawing participants and visitors from across the country and beyond.

Parade Route and Street Closures

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The procession will travel along Fifth Avenue in Manhattan from 44th Street to 79th Street, spanning 35 blocks. Formation areas include sections of West/East 43rd through 48th Streets, with dispersal extending to East 79th through 85th Streets and surrounding avenues.

The New York Police Department will implement extensive street closures in Manhattan for public safety and crowd management. Affected areas include Fifth Avenue between 42nd and 86th Streets, Madison Avenue between East 42nd and 86th Streets, and multiple cross streets from 42nd to 74th. Motorists are advised to use alternate routes and expect significant delays throughout the day.

Public transit adjustments will also be in effect, with some bus routes rerouted and subway stations potentially crowded. Officials recommend using the MTA’s trip planner and arriving early for optimal viewing spots along the avenue.

Star-Studded Honorees and Special Dedications

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The 2026 parade boasts an impressive roster of honorees celebrating excellence in entertainment, public service, arts and sports. Daddy Yankee serves as Grand Marshal, bringing reggaeton energy to the festivities. Dayanara Torres is named Queen, while actor Anthony Ramos takes the role of King.

Lifetime Achievement honors go to musician Charlie Sepúlveda and Congresswoman Nydia Velázquez. Ambassadors include Lila Nikole, Elizardi “Eli” Castro, Papo Vázquez and Lilibeth Torres “La Boricualorian.” Additional recognitions feature JJ González as Trailblazer, Chef Iván Clemente as Hijo de Borinquen, and rising stars Camila Colón and Milton Dávila Jr.

Athletes of the Year are Jose Ortiz and Irad Ortiz Jr., with Los Rivas receiving Orgullo Puertorriqueño, Comité Noviembre as Community Champion, and Word Life (Facts is Facts) as Influencer of the Year. The celebration is dedicated to Vega Baja, Puerto Rico, and the Puerto Rican community of New Jersey.

Pre-parade events include the 152nd Street Cultural Festival, a Mass at St. Patrick’s Cathedral and a scholarship gala, building excitement throughout the week.

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Cultural and Historical Significance

The Puerto Rican Day Parade has evolved from modest beginnings into a major cultural institution. It serves not only as a celebration but also as a platform for advocacy on issues affecting Puerto Rican communities, from economic development to disaster recovery and political representation.

Participants typically include marching bands, dance troupes, community organizations, elected officials and corporate sponsors. Floats adorned with flags, traditional symbols and messages of pride create a visual spectacle, while bomba, plena and salsa music fill the air.

This year’s theme emphasizes that Puerto Rican identity transcends geographic boundaries, honoring contributions in arts, science, politics and everyday life. The parade fosters connections between island residents and the diaspora, strengthening cultural ties amid ongoing challenges like economic recovery and climate resilience.

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Community Impact and Viewer Tips

The event generates significant economic activity for local businesses while providing a powerful display of unity. For families, it offers an opportunity to introduce younger generations to their heritage through music, dance and storytelling.

Spectators are encouraged to wear comfortable clothing and sunscreen, stay hydrated and follow safety guidelines from organizers and police. Those unable to attend in person can watch live broadcasts on local television stations and streaming platforms. Post-parade festivities often continue in neighborhoods like Spanish Harlem and the Bronx.

Looking Ahead

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As the 69th parade unfolds, it reinforces New York City’s role as a global hub for Puerto Rican culture. Future events will continue adapting to contemporary issues while preserving traditions that have sustained the community for decades.

Organizers emphasize inclusivity and education, aiming to inspire civic engagement and cultural preservation. The 2026 edition promises to be a memorable showcase of joy, resilience and forward momentum for millions connected to Puerto Rican heritage.

The National Puerto Rican Day Parade stands as a testament to the enduring spirit of a people who have shaped American life in profound ways. On Sunday, Fifth Avenue will once again become a river of pride, color and celebration, reminding all who witness it of the rich contributions and unbreakable bonds of the Puerto Rican community.

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Evercore ISI maintains Lennar stock rating on margin outlook

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Evercore ISI maintains Lennar stock rating on margin outlook

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The Job That AI Was Supposed to Kill Needs More Humans Than Ever

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The Job That AI Was Supposed to Kill Needs More Humans Than Ever

Three years into training to be a court reporter, Jayne Williams is used to warnings that AI will soon take over her budding career. 

Few roles look more ripe for extinction at first glance. Automated transcription services are proliferating—and rapidly improving in accuracy. And more courtrooms are turning to real-time speech-to-text tools, often to fill in when a human stenographer isn’t available.

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