B&M Bargains is moving to a bigger premises but the move leaves a large unit in the centre of Carmarthen with an uncertain future

A large retail chain is relocating to a bigger unit on the outskirts of Carmarthen but in doing so will leave behind another empty shop in the town centre.

B&M Bargains has confirmed it will move from its Hall Street location after 15 years of trading to the former B&Q store just off the A40 heading out of town at a site known as Glanyrafon Road.

The retailer has put several banners emblazoned with the opening date outside the now-empty former B&Q building.

B&Q itself relocated to the Pensarn area of Carmarthen in February and B&M Bargains’ decision to close up shop in the town centre and relocate raises questions over the future of the current Hall Street store once it closes in August.

The unit represents one of Carmarthen town centre’s biggest retail spaces and was previously home to Woolworths for decades.

After the collapse of Woolworths in early 2009 the space became clothing store Ethel Austin and later homeware shop Life&Style before B&M opened in early 2011 .

It means the store will now be vacant for the first time in 15 years raising concern from business leaders.

Chair of Carmarthen Chamber of Trade and Commerce, Jack Yeates, said he hoped the blow to the town centre would be a short one.

He said: “It’s always sad when businesses decide to move just outside of town.

“As a chamber we hope that the Hall Street shop isn’t vacant for long and doesn’t join the list of empty properties within town because it is a large space to be left unused.

“If it can be filled quickly and helps pull people into town then all the better.”

B&Q announced last year it was closing its store off the A40 due to the expiry of a lease agreement.

That sparked the move to a smaller premises at Parc Pensarn retail park just over a mile away.

The new B&Q now occupies a unit formerly occupied by Poundstretcher and Laura Ashley.

Work to prepare for B&M’s move into the former B&Q premises has been ongoing since February and the site is currently fenced off to the public with several banners in place advertising the planned opening.

Addressing its relocation B&M Bargains said in a statement: “B&M Hall Street will be relocating to Glanyrafon Road.

“The new store will be much bigger and better with over 26,957 sq ft of sales space offering an even bigger selection of great bargains from grocery, toiletries, and health and beauty to toys, homeware, and DIY.

“The store will also boast its own 10,098 sqft garden centre selling hundreds of plant varieties and gardening essentials.

“The current Carmarthen store will shut its tills for the final time on Saturday, August 15, but customers won’t have to wait much longer to get back in store as the new site will open its doors at 8am on Saturday, August 22.”

Even as foreign institutional investors (FIIs) continue to pull billions out of Indian equities amid global volatility and geopolitical tensions, select pockets of the market are still attracting steady inflows. One such stock is Suzlon Energy, where foreign investors have increased their holdings for the third consecutive quarter.

The country’s largest renewable energy solutions provider has seen sustained FII interest even as broader market sentiment remains cautious. Suzlon shares currently trade about 15% below their 52-week high of Rs 68 but have still gained more than 11% in 2026, a year marked by tariff-related uncertainty and heightened geopolitical tensions stemming from the Middle East conflict.

Behind the stock’s resilience lies a bigger transformation story. Suzlon is attempting to transform from a wind-focused company into a full-stack renewable energy solutions provider. Combined with favourable industry tailwinds and a strengthening business model, the transition is increasingly drawing the attention of brokerages and investors alike.

Will Suzlon deliver for its 56 lakh shareholders?

Domestic brokerage firm Motilal Oswal has described Suzlon Energy as “the most investable renewable energy player.” At its recent investor meet, the company unveiled an ambitious FY31 roadmap aimed at transforming itself from a wind-centric business into a broader renewable energy platform. Suzlon is targeting revenue growth of more than 25% CAGR through FY31 while further strengthening its leadership position in the domestic wind energy market.As part of this strategy, the company plans to increase its share of India’s wind market to more than 40% from around 33% currently.

Motilal Oswal has a Buy rating on the stock with a target price of Rs 65, implying an upside of 18% from current levels. The brokerage said management addressed several medium- to long-term concerns by outlining a clear roadmap for growth and diversification beyond its core wind business. According to the brokerage, Suzlon’s planned expansion into adjacent renewable energy segments could improve earnings resilience over time.
JM Financial also sees the next phase of growth being driven by what it calls “Suzlon 2.0”, a shift that marks the company’s evolution from a wind turbine supplier to an integrated renewable energy developer.
JM Financial noted that Suzlon’s target of expanding its AMS portfolio to 70 GW from the current 18 GW could create what it describes as the highest-quality earnings stream within the business.

Suzlon 2.0 strategy focused on RE solutions

Under its Suzlon 2.0 roadmap, the company aims to evolve beyond a pure-play wind OEM by offering end-to-end renewable energy solutions. Key strategic pillars include becoming a one-stop provider for customers’ renewable energy requirements through integrated Wind + Solar + BESS solutions, acting as a lifetime service partner across the renewable energy asset lifecycle, and delivering globally competitive products by combining world-class technology, localised engineering capabilities and India’s cost-efficient manufacturing base.

High localization a strategic advantage

The Indian wind industry currently operates with approximately 60% localization levels, whereas the company has achieved 80-85% localization across its value chain. This strengthens supply-chain resilience, reduces dependence on imports and positions the company favourably amid an increasingly volatile global trade and geopolitical environment.

Expanding product portfolio

The company has recently launched its 5MW turbine platform, Blue Sky, designed for international low-wind-speed sites, with the first installation completed in May’26. The company is also developing the S163 (6MW) turbine targeted at mid-to-high wind-speed locations, with the first turbine installation expected in 1HFY27.

DevCo model to reduce project gestation

Wind projects in India typically face delays of 6-12 months because of land acquisition, right-of-way (RoW), grid connectivity and regulatory approvals. Overall project gestation periods generally range between two and three years.

Suzlon’s DevCo model seeks to reduce project timelines to 15-18 months by securing more than 50% of the required land and obtaining early grid connectivity approvals before execution begins. Management expects DevCo to contribute over 60% of revenue by FY31, say experts.

“Suzlon has spent three years strengthening its balance sheet and ‘Suzlon 2.0’ recasts the company from a wind equipment-EPC-O&M provider into a wind-first, full-stack RE solutions house, offering site development, equipment, turnkey projects and asset management across wind, solar and storage,” ICICI Securities said in a note last week.

The strategic shift is coherent with the demand preference shift towards firm and dispatchable RE. Suzlon, through its end-to-end solutions, plans to turn execution bottlenecks (such as land, RoW, and grid connectivity) into its moat to achieve a unique positioning. The framework is sound and a 5.5GW order book (OB) lends near-term comfort while the company builds a base for the next leg of growth,” the brokerage said.

Export opportunity

Global wind installed capacity stood at approximately 1,299 GW at the end of 2025, with around 165 GW added during the year and nearly 2,000 GW estimated by 2030.

Suzlon’s Blue Sky platform has been launched with country- and grid-specific certifications. The company already has more than 6 GW of existing installations and is targeting entry into select export markets with 3 GW of order intake.

Management highlighted approximately 74 GW of export opportunity across addressable markets over the next five years, along with around 18 GW of additional repowering opportunity.

Contrarian view

Last week, Nuvama Institutional Equities downgraded Suzlon Energy to Hold with a target price of Rs 55. Analysts expect annual domestic wind capacity additions to stabilise at 8-10 GW over the next two to three years as competition from solar and battery energy storage projects intensifies.

Assuming Suzlon maintains a market share of 30-35%, the brokerage estimates annual execution could plateau at around 3-3.5 GW during FY27-28.

Sebi order a key overhang?

While Suzlon’s long-term growth narrative continues to gather momentum, the recent regulatory concern remain an overhang.

Capital markets regulator Sebi has imposed penalties totalling nearly Rs 29 crore on Suzlon Energy and several former executives. Sebi concluded that the company misrepresented its financial position through transactions involving subsidiaries, inflated profits and inadequate disclosures.

With foreign investors steadily increasing their holdings and brokerages backing its renewable energy ambitions, Suzlon’s next phase of growth will ultimately hinge on execution, diversification and its ability to deliver on the promises of the 2.0 growth map.

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

Foreign brokerage giant JP Morgan has initiated coverage of India’s capital markets sector with a bullish outlook, arguing that the country’s fast-growing Systematic Investment Plan (SIP) ecosystem continues to drive long-term wealth creation despite muted equity market returns.

The brokerage has named Angel One, Computer Age Management Services (CAMS), and ICICI Prudential Asset Management Company as its top investment picks, citing superior business models, attractive valuations, and favourable regulatory positioning. Its preference order stands at Angel One, followed by CAMS, ICICI AMC, Nippon Life India Asset Management, and HDFC Asset Management Company.

According to JP Morgan, India’s capital market story remains firmly anchored by retail financialisation through SIPs. Monthly SIP inflows surged 48% year-on-year to Rs 310 billion in May 2026, even as the Nifty 50 delivered a modest 0.8% CAGR over the last two years and foreign portfolio investors sold nearly US$36 billion worth of Indian equities during FY25 and FY26.

The brokerage highlighted that SIPs accounted for nearly 77% of total equity and balanced fund net inflows in FY26, underscoring the resilience of retail participation despite market volatility. Supportive tax policies and a growing shift of household savings toward financial assets are expected to keep inflows strong in the coming years.

JP Morgan is also constructive on the structural growth of trading activity. Industry average daily premium turnover in index options has expanded from Rs 10 billion in FY14 to Rs 699 billion in FY26, driven by rising retail participation, algorithmic trading, and the proliferation of weekly expiry contracts. In the commodities segment, Multi Commodity Exchange of India witnessed a sharp surge in volumes, with futures average daily turnover jumping 138% year-on-year during FY26.

While several capital-market stocks have already delivered strong returns over the past year—including BSE Limited (+50%), MCX (+78%), and NAM (+56%)—JP Morgan believes earnings growth and operating leverage will increasingly differentiate winners from laggards.
The brokerage remains neutral on BSE and KFin Technologies, awaiting better entry points, while maintaining an underweight stance on Central Depository Services Limited and MCX.However, JP Morgan cautioned that its bullish thesis could be challenged if monthly SIP inflows fall below Rs 250 billion for a sustained period or if regulatory changes lead to a more than 20% decline in derivatives trading volumes.

For investors looking to ride India’s continuing financialisation wave, the brokerage sees Angel One, CAMS, and ICICI AMC as the standout beneficiaries of the country’s rapidly expanding retail investment ecosystem.

JP Morgan has assigned an Overweight (OW) rating to Angel One, CAMS, ICICI AMC, Nippon Life India Asset Management (NAM), and HDFC AMC. Among its preferred picks, the brokerage has set a price target of Rs 420 for Angel One, Rs 950 for CAMS, and Rs 4,090 for ICICI AMC. It has also given price targets of Rs 1,360 for NAM and Rs 3,250 for HDFC AMC.

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

Domestic brokerage firm Motilal Oswal has initiated coverage on eight textile companies, assigning a Buy rating to Gokaldas Exports, Indo Count Industries, Arvind Fashions, Pearl Global Industries and Welspun Living, while assigning Vardhman Textiles, KPR Mill and Trident a Neutral rating.

The brokerage believes the global textile and apparel industry is gradually emerging from a prolonged period of weakness. Global textile and apparel trade remained largely flat between CY21 and CY25 after the strong post-pandemic demand surge in FY22.

Apparel, which accounts for around 60% of global trade, saw muted growth, while the home textile segment declined during the period. Inflationary pressures, weak discretionary spending, retailer inventory corrections, softer demand in key markets such as the US and Europe, supply chain disruptions, high freight costs and tariff uncertainties weighed on the sector.

According to Motilal Oswal, conditions have started improving from CY25 onwards, aided by inventory normalisation, easing inflation and lower tariffs. The brokerage expects India’s textile sector to be a key beneficiary of this recovery, supported by upcoming free trade agreements with the UK and EU, favourable tariff realignments and improving incentives such as RoSCTL.

Buy-rated stocks

Gokaldas Exports: The company could benefit from capacity expansion in India and improved utilisation in its Africa business following the renewal of the African Growth and Opportunity Act (AGOA). The brokerage forecasts revenue, EBITDA and adjusted PAT CAGR of 18%, 33% and 73%, respectively, over FY26-28 and has assigned a Buy rating with a target price of Rs 1,110, an upside of 34%.
Arvind Fashions: The brokerage sees a strategic shift from a fabric-focused business to a garment-led model, which it believes offers a larger addressable market. It also expects the advanced materials segment to support growth and margins. Motilal Oswal projects revenue, EBITDA and adjusted PAT CAGR of 15%, 23% and 29%, respectively, and has set a target price of Rs 670 (43% upside) with a Buy rating.

Pearl Global Industries: It is expected to see growth driven by capacity expansion across India, Bangladesh, Vietnam and Indonesia. The brokerage forecasts revenue, EBITDA and adjusted PAT CAGR of 14%, 25% and 29%, respectively, and values the stock at Rs 2,300 (22% upside) with a Buy recommendation.

Indo Count: The company is expected to benefit from growth in its utility bedding business and the domestic bed linen segment. Motilal Oswal projects revenue, EBITDA and adjusted PAT CAGR of 20%, 44% and 90%, respectively, over FY26-28 and has assigned a Buy rating with a target price of Rs 550, an upside of 40%.
Welspun Living is expected to deliver mid-teen revenue growth led by its home textile business, supported by lower tariffs and prospective trade agreements with the UK and EU. The brokerage forecasts revenue, EBITDA and adjusted PAT CAGR of 14%, 43% and 97%, respectively, and has set a target price of Rs 200 (24% upside) with a Buy rating.

Neutral-rated stocks

KPR Mill: It is expected to benefit from its leadership position in textile and apparel manufacturing and its garmenting capacity, along with contributions from its sugar and ethanol businesses. Motilal Oswal projects revenue, EBITDA and adjusted PAT CAGR of 13%, 20% and 20%, respectively, and has assigned a target price of Rs 1,200 (6% upside).

Trident: The brokerage expects high single-digit growth led by its home textile portfolio, followed by paper and yarn businesses. It forecasts revenue, EBITDA and adjusted PAT CAGR of 11%, 17% and 29%, respectively, and values the stock at Rs 28 (9.3% upside).

Vardhman Textiles: The company is expected to post mid-single-digit growth, driven by its garment business and supported by better yarn realisations. Motilal Oswal projects revenue, EBITDA and adjusted PAT CAGR of 9%, 24% and 32%, respectively, and has initiated coverage with a Neutral rating and a target price of Rs 700 (9.5% upside).

Indian textile market grew at a 6% CAGR between FY22 and FY26, led by apparel growth of around 8% and home textiles growth of about 5%. While the domestic market, which contributes roughly 80% of the industry, expanded 9%, exports declined 4% due to weak global demand. Motilal Oswal expects exports to recover going forward and highlighted the government’s target of expanding the textile market to USD 350 billion from USD 194 billion in FY26.

The brokerage also pointed to global supply chain shifts as a structural opportunity for India. Restrictions on Xinjiang cotton by the US and EU, declining spindle capacity in China and political instability in competing sourcing hubs such as Pakistan and Bangladesh have strengthened India’s position. India remains the world’s second-largest cotton producer and spindle capacity holder, supported by a large export base, execution capabilities and abundant labour availability.

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

The Bad Homburg Open is back for its sixth edition this week, serving as the final major grass-court tune-up before Wimbledon. Here are 10 things to know about this year’s tournament.

1. It’s the Final Wimbledon Warm-Up Event

The Bad Homburg Open is due to take place between June 21-27 in Germany and is the final grass court warm-up before Wimbledon. The tournament has positioned itself as a key stop for top players looking to sharpen their grass-court form before the year’s third major championship.

2. It Carries WTA 500 Status

The 2026 Bad Homburg Open powered by Solarwatt is a women’s professional tennis tournament to be played on outdoor grass courts at the TC Bad Homburg in Bad Homburg, Germany, from 22 to 28 June 2026. It will be the sixth edition of the Bad Homburg Open and is classified as a WTA 500 event on the 2026 WTA Tour. The Bad Homburg Open has been a WTA 500 event since 2024, having launched as a smaller WTA 250-level tournament in 2021.

3. It Features an Elite Field

This year’s tournament has drawn several of the sport’s biggest names. It sees an elite field with Elena Rybakina, Iga Swiatek, Mirra Andreeva, Elina Svitolina, and Karolina Muchova involved. Rybakina is set for her debut alongside Muchova.

4. The Defending Champion Is Skipping It

Jessica Pegula was the reigning champion, but did not participate this year. Her absence opens the door for a new champion to emerge from this year’s deep field.

5. Several Top-20 Players Are Also Competing

Beyond the headline names, the draw includes a broad swath of the WTA’s upper rankings. Linda Noskova, Naomi Osaka, 2024 champion Diana Shnaider, Iva Jovic, and Ekaterina Alexandrova are among the top 20 players in the fold.

6. The Tournament Has a History of Dramatic Finals

Bad Homburg has built a reputation for producing closely contested championship matches since its inception. The town known for champagne air and tradition is adding exciting women’s tennis to its list of attractions, with three of the first four finals all ending in a tiebreak or a deciding third set.

7. The Draw Features 32 Singles Players and 16 Doubles Teams

The tournament’s full competitive field spans both singles and doubles competition. 32 singles players and 16 doubles teams show up to TC Bad Homburg ready to rally on outdoor grass courts.

8. The Top Four Seeds Received First-Round Byes

As is standard for WTA 500 events of this size, the tournament’s highest-ranked competitors were given an advantage entering the main draw. The top four seeds received a bye into the second round, allowing the tournament’s biggest stars to bypass the opening round entirely before the bracket narrows.

9. The Opening Round Produced a Tournament-Record Match

This year’s edition has already delivered a notable piece of tournament history in its earliest stage. At three hours and 12 minutes, the first round match between Leylah Fernandez and Katie Boulter was the longest match in tournament history.

10. The Event Coincides With a Wider Controversy in Women’s Tennis

The tournament’s broader backdrop has been shaped by significant news affecting the sport this week. Marketa Vondrousova was suspended from tennis for four years for refusing an anti-doping test, a development that has generated substantial discussion within tennis circles and added an unusual layer of controversy to a week otherwise focused on Wimbledon preparation.

Where the Tournament Goes From Here

With the tournament currently in its round-of-32 and round-of-16 stages as of this week, the field continues narrowing toward the final, which will close out the event on June 27 or 28. Several seeded players, including top seed Iga Swiatek, No. 2 seed Mirra Andreeva, No. 3 seed Elina Svitolina, and No. 4 seed Karolina Muchova, remained active in the draw as of the tournament’s most recent updates, while seventh seed Diana Shnaider, the 2024 champion, had already been eliminated.

With the Bad Homburg Open running through June 27-28 and Wimbledon set to follow shortly after, this week’s results will offer one of the clearest indicators of grass-court form heading into the year’s third Grand Slam. Given the strength of this year’s field — featuring Swiatek, Rybakina, Andreeva, Svitolina, and Muchova all competing in the same draw — the eventual Bad Homburg champion will enter Wimbledon with valuable momentum on a surface that continues to favor a select group of the sport’s most adaptable players.

MIAMI — The Miami Heat completed a blockbuster trade for Giannis Antetokounmpo on Monday, but adding another superstar in LeBron James appears unlikely despite renewed speculation about a potential reunion in South Beach.

Heat president Pat Riley orchestrated the deal that sent Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, the No. 13 pick in this week’s NBA Draft and future assets to the Milwaukee Bucks for the two-time MVP and Bobby Portis. The move signals Miami’s all-in approach for the upcoming season.

Now, with Antetokounmpo joining Bam Adebayo in the frontcourt, attention has turned to whether the Heat could pursue James, who becomes an unrestricted free agent this summer. Miami Herald reporter Barry Jackson reported that while the Heat could offer James their full mid-level exception, a return to South Beach is considered a long shot.

James spent four seasons with the Heat from 2010 to 2014, leading them to two NBA championships and four straight Finals appearances. His departure to return to the Cleveland Cavaliers in 2014 came after a somewhat contentious exit, though he has spoken fondly of his time in Miami in recent years.

The 41-year-old James just completed his 23rd NBA season with the Los Angeles Lakers, averaging over 20 points per game. With the Lakers reportedly focusing their future on Luka Doncic, James could be seeking a new challenge or a chance to chase another title in familiar surroundings. Teaming with Antetokounmpo and Adebayo under coach Erik Spoelstra could prove tempting.

However, financial constraints and roster fit present significant hurdles. The Heat are hard-capped at the first apron after using more than 100 percent of the traded player exception in the Antetokounmpo deal. Offering James a mid-level exception around $15 million would require creative maneuvering.

James has not publicly commented on the rumors, and his representatives have not responded to requests for comment. Sources close to the situation indicate James is weighing multiple options, including staying with the Lakers or exploring other contenders.

Riley’s History of Big Moves

Pat Riley has built a reputation for bold roster constructions throughout his career. The executive helped assemble superteams featuring James, Dwyane Wade and Chris Bosh, as well as more recent groups with Jimmy Butler. His ability to attract talent has been a hallmark of Heat culture.

Chad Johnson, a former Heat player, recently suggested Riley has “one more thing up his sleeve” regarding roster moves. While not explicitly mentioning James, the comment fueled speculation about potential additions to complement Antetokounmpo.

Beyond James, Miami could target veterans like Nikola Vucevic, Tobias Harris, Khris Middleton, Kelly Oubre Jr., Tim Hardaway Jr. and Anfernee Simons in free agency to add depth and shooting around their new star duo.

Impact of Antetokounmpo Trade

The acquisition of Antetokounmpo transforms the Heat’s outlook for the 2026-27 season. The Greek Freak, a two-time MVP and Defensive Player of the Year, brings elite scoring, rebounding and playmaking to Miami. Pairing him with Adebayo creates one of the most formidable frontcourts in the Eastern Conference.

Milwaukee received a significant haul in return, but the Bucks will enter a rebuilding phase. The trade ends Antetokounmpo’s tenure in Milwaukee after 13 seasons, during which he led the franchise to its first championship in 50 years in 2021.

For the Heat, the move represents a clear win-now strategy. Miami has been competitive in recent years but has fallen short of championship aspirations. Adding Antetokounmpo elevates their ceiling significantly.

Analysts project the Heat could contend for 48 or more wins in the upcoming season, potentially making a deep playoff run. The addition of James would further boost those expectations, though the financial and roster realities make it challenging.

James’ Career Crossroads

James enters free agency at a pivotal point. After averaging more than 20 points per game in his latest season, he remains one of the league’s most productive players. His basketball IQ and leadership would be assets to any contending team.

A return to Miami would reunite him with Spoelstra, under whom he won two titles. The familiarity could ease transition, and the opportunity to play alongside Antetokounmpo offers a chance at another championship run.

However, James has strong ties to Los Angeles, where his family has settled. The Lakers’ direction with Doncic may influence his decision. Retirement remains an option, though James has shown no indication of slowing down.

Free agency officially begins June 30. Teams will have until then to prepare offers, with James expected to carefully evaluate his options for the final chapters of his Hall of Fame career.

Heat’s Free Agency Plans

Even without James, Miami has options to bolster the roster. Veterans like Vucevic could provide frontcourt depth, while shooting specialists such as Hardaway Jr. would complement Antetokounmpo and Adebayo’s interior presence.

Riley’s track record suggests the Heat will remain active. Whether pursuing James or other targets, the franchise aims to maximize the window opened by the Antetokounmpo acquisition.

The NBA world will closely monitor developments in South Beach. A James reunion would generate massive excitement, though current indications point to it remaining a long shot. Regardless, the Heat enter the offseason with renewed championship aspirations.

The easing of geopolitical tensions in West Asia has brought some relief to policymakers, but the Reserve Bank of India (RBI) is not lowering its guard just yet. RBI Governor Sanjay Malhotra said that while the truce has reduced immediate risks to inflation and growth, uncertainties surrounding crude oil prices, the monsoon, and global developments continue to warrant caution.

Speaking to ET Now, Malhotra said the central bank remains firmly data-dependent and has no pre-set path on interest rates despite market speculation about a possible tightening cycle.

West Asia Truce Brings Relief, but Risks Persist
The RBI Governor described the de-escalation in West Asia as a positive development for both the global and Indian economies, especially given India’s close economic ties with the region.”To some extent the de-escalation in the West Asian conflict is a big positive for the whole world and also for our Indian economy, especially because we are so deeply interconnected with West Asia. It is positive news both for growth and for inflation, as crude prices have moderated. In fact, urea prices have plummeted. The Indian economy is resilient. The government and the OMCs together cushioned the impact of the energy shock to a great extent, and all high-frequency indicators show that India has weathered the shock quite well. Still, these are very uncertain times, and as we said in our monetary policy, we are in wait-and-watch mode. We hope that this truce continues and better times lie ahead for all of us,” he said.

External Uncertainty Remains the Biggest Challenge
While domestic indicators have remained stable, Malhotra said external developments continue to pose the biggest challenge for monetary policy.
“The currency and the external uncertainty are what we are all concerned about. Last year it was more about trade and tariff-related uncertainties, and this calendar year, from March onwards, it has been more about the West Asian conflict. Most of it is external uncertainty that is weighing on us. Although I must mention that monetary policy, by definition, has to cater to uncertainty. We are well prepared for whatever kind of uncertainty we may have,” he said.RBI Watching for Inflation Spillover
The Governor said the Monetary Policy Committee (MPC) is closely monitoring whether higher wholesale prices eventually spill over into broader consumer inflation.

“We are not sure, frankly, whether we will have second-round effects or not. If we were sure, the Monetary Policy Committee would have acted. Inflation is still below 4%, at 3.9%, mostly due to food. Core inflation is about 2.4%. But WPI did go up, largely because of fuel. Whether it generalises or not is something we have to wait and watch. Accordingly, we will make the next policy move.”

Crude Risks Have Reduced, But Outlook Remains Uncertain
Although oil prices have softened, Malhotra cautioned against assuming that risks have disappeared.

“Upside risks have certainly reduced, but we will still have to wait and watch as to where crude prices ultimately end up. The truce itself is fragile. It will take time for supplies to be fully restored, infrastructure has been damaged, inventories have declined, and countries will look to rebuild their reserves.”

No Immediate Signal of Rate Hike
Responding to speculation that the RBI is preparing markets for higher interest rates, Malhotra dismissed the interpretation, saying the central bank intentionally retained its neutral stance.

“If it was so certain that we were going to hike rates in the coming months, then we would have changed our stance from neutral to restrictive. We did not do that precisely because there is elevated uncertainty. It will be premature to talk about a rate hike. We will continue to remain data-dependent and take it policy by policy.”

Monsoon and Crude Both Matter
Asked whether crude oil or the monsoon poses a greater inflation risk, the Governor declined to rank the two, saying both remain equally important.

“We are watchful of both. I will not like to pick either one of them. Both are uncertain. Both have consequences for inflation, and we will be looking at the overall picture.”

India-US Trade Deal Could Boost Growth
Malhotra expressed optimism about the progress in trade negotiations between India and the United States, saying a successful agreement could benefit exports, investments and the broader economy.

“There has been good progress made. I am not aware of the exact specifics, but obviously, as we read through the media, India will sign a deal which is positive for India. Trade and investments go together, and so it should be good for investments as well.”

India’s Resilience Backed by Multiple Factors
The Governor attributed India’s resilience during the energy shock to strategic reserves, demand moderation, and increased global production.

“Demand curtailment, release of reserves, and increased production from other sources are the three reasons which led to this resilience. Going forward, these reserves will have to be rebuilt, some demand will return, and it will take time for supplies through Hormuz to normalise. We will have to wait and watch where prices finally settle.”

Outlook: Cautious Optimism
While easing geopolitical tensions have reduced immediate inflation risks, the RBI believes uncertainty remains elevated. The central bank will continue to assess incoming data on inflation, crude oil prices, the monsoon, and global developments before taking any policy action. For now, the message from Mint Street is clear: caution outweighs conviction.

The Golden State Warriors are exploring significant roster changes to support Stephen Curry‘s championship ambitions, with potential targets including LeBron James, Kawhi Leonard, and Trey Murphy III. While a genuine “grand plan” to land both James and Leonard has circulated this offseason, the realistic path to pulling off both moves remains narrow, according to multiple league sources.

The Reported “Grand Plan”

A widely shared report laid out a specific two-step framework for how Golden State could theoretically land both stars. “The Warriors reportedly have a ‘grand plan’ to potentially acquire Kawhi Leonard AND LeBron James,” according to a report on X. “Step 1: Sign LeBron James using the $15M NTMLE. Step 2: Trade Jimmy Butler, Brandin Podziemski, and two first-round picks for Kawhi Leonard.”

That outline reflects a strategy built around using two entirely separate transaction types — a free-agent signing for James and a trade for Leonard — rather than treating the two acquisitions as a single package deal.

Why James Is the More Realistic of the Two

Of the two stars, James represents the more financially attainable target for Golden State, primarily because his market value has shifted given his age. James would be easier for the Warriors to acquire than Leonard. The 41-year-old will be a free agent after the season. With that said, the Warriors could have access to the non-taxpayer mid-level exception of up to $15 million, which could be of interest to James, even though the four-time MVP is worth much more than that — it’s possible no contender will offer him more than that figure given the league’s tightened cap rules.

If James took the mid-level exception, it would be his lowest salary since the 2010-11 season with the Miami Heat. ESPN’s Anthony Slater has reported that the Warriors are currently planning their offseason around the premise that James will indeed return to the Lakers instead — meaning Golden State’s pursuit, while real, is currently considered a backup scenario rather than the favorite outcome.

Leonard Represents Golden State’s True Preferred Target

According to The Athletic, citing reporting from NBA insider Jake Fischer, the LA Clippers’ Kawhi Leonard is on the Heat’s Plan B list, or the Golden State Warriors’ Plan A list. That designation is telling. It signals that Leonard is the player the Warriors want most this summer, unless something drastic changes elsewhere.

The Warriors checked in on Leonard in the days leading up to the February trade deadline. The Los Angeles Clippers engaged to a greater degree than in the past, but they ultimately returned to the Warriors with the same answer: team owner Steve Ballmer said no. League sources said Ballmer has maintained a firm stance against a Leonard trade, preferring to continue building around his star forward.

Why Pulling Off Both Is So Difficult

The fundamental obstacle to landing both stars simultaneously comes down to roster construction and salary mechanics rather than simple desire. In a literal sense, the Warriors will have no salary-cap space this offseason. With their six players under standard contracts making $144.4 million and Draymond Green expected to make close to $20 million, they are already at the salary cap of $165 million.

Once the Warriors use their mid-level exception on James, their best remaining offer to any other free agent would be a veteran minimum contract — meaning any path to adding Leonard would have to come through a trade rather than free agency, using existing roster pieces and draft capital as the currency.

The Trade Mechanics Behind a Potential Leonard Deal

Any realistic trade for Leonard would likely need to be built around Golden State’s highest-salaried trade chip. Jimmy Butler is the 10th-highest-paid player in the NBA, so if he is used as the matching salary in a blockbuster, that obviously helps. The Warriors have been linked quite a bit to Kawhi Leonard, and Butler makes $6.5 million more than Leonard does, giving Golden State a workable salary match if the Clippers were ever willing to engage.

What a Combined Roster Could Look Like

Analysts have sketched out what Golden State’s starting lineup might resemble if both moves came together. A healthy starting five could be Curry, Podziemski or De’Anthony Melton, Leonard, Draymond Green, and Porzingis — assuming the Warriors also re-sign Kristaps Porzingis, who has emerged as a separate offseason priority and would give Golden State a floor-spacing center to pair with its perimeter stars.

Defensive Concerns With an Aging Core

Even if Golden State successfully assembled that roster, analysts have raised real questions about whether an older core could hold up defensively across a full season. The real questions here are defensive. Green is 36. Curry, 38, and James, 41, are even older. Smarts can only get you so far. Athleticism and endurance are critical components of defense as well, and the Warriors would have to get the rest of the roster right. A decade ago, putting James and Curry on the same team would have led to near-automatic championships. That’s no longer the case.

The Leonard Investigation Adds Another Layer of Uncertainty

Beyond the financial and roster fit questions, an unresolved league matter continues to cloud any potential Leonard trade. No one around the league seems sure whether Leonard is truly on the market, or whether the NBA’s ongoing investigation into the Clippers’ alleged salary cap circumvention involving Leonard could become a problem for any team that takes him on.

The Bleacher Report Case for Leonard Specifically

Some analysts have specifically argued that Leonard, rather than James, represents the more logically complementary fit alongside Curry given their similar career stages. “Leonard feels almost a little too perfect for this team,” analyst Zach Buckley wrote. “The 34-year-old, 35 in June, is in the same fight with Father Time as Curry and carries as many availability concerns as anyone.” Leonard has one season remaining on a three-year, $149 million contract with the Clippers and is slated to have more than a $50 million cap hit in 2026-27, while Curry’s own contract extension runs through the same 2026-27 season before he becomes a free agent in 2027.

A More Realistic Backup: Trey Murphy III

Given the difficulty of landing either Leonard or James outright, some reporting suggests Golden State’s most attainable star addition may ultimately be a different player entirely. Murphy continues to be the most ideal trade target connected to the Warriors. He’s just 26 years old and under contract for three more seasons at a bargain rate of $27 million in 2026-27, rising to $31 million by 2028-29 — a far more financially manageable target than either Leonard or James, even if his star power doesn’t match theirs.

With the NBA Draft now complete and free agency negotiations opening June 30, the coming days will reveal how seriously Golden State pursues its most ambitious offseason scenario. Given Ballmer’s continued public resistance to trading Leonard and the Lakers’ presumed advantage in re-signing James, the realistic odds of both stars landing in Golden State simultaneously by 2027 remain genuinely long — though the persistent and credibly sourced interest from the Warriors in both players suggests the front office has not abandoned the idea, even if a more measured outcome involving just one star, or a more attainable piece like Murphy or a re-signed Porzingis, currently appears the more probable path forward for Curry’s supporting cast.