GQG Partners has pared its holdings in two Adani Group companies through block deals worth about Rs 5,750 crore, with SBI Mutual Fund emerging as the buyer of the entire stake on Friday. According to NSE block deal data, GQG Partners Emerging Markets Equity Fund sold shares in Adani Enterprises and Adani Energy Solutions.

The larger transaction involved 1.64 crore shares of Adani Enterprises sold at Rs 2,913.4 apiece, translating into a deal value of about Rs 4,789 crore. In a separate transaction, GQG sold 63.66 lakh shares of Adani Energy Solutions at Rs 1,504.8 per share, amounting to around Rs 958 crore.

Together, the two transactions were valued at about Rs 5,747 crore. The shares were acquired by SBI Mutual Fund at the same prices through corresponding block deals.

The stake sale comes after a strong run in Adani Group stocks over the past year, during which several group companies recovered sharply from the volatility that followed allegations made by US-based short seller Hindenburg Research in 2023.

GQG had emerged as one of the earliest large institutional investors to back the Adani Group following that episode. Beginning in 2023, the fund manager invested billions of dollars across multiple Adani companies, helping restore investor confidence at a time when foreign institutional participation in the group had weakened.

Since then, Adani companies have focused on deleveraging, strengthening cash flows and improving operational performance. Several group entities have reported healthy earnings growth, while execution across infrastructure, energy and transport businesses has remained strong.
The latest transaction will be viewed by market participants largely as a portfolio rebalancing exercise rather than a change in the fund’s broader investment thesis on the group.Adani Enterprises, the flagship incubator of the conglomerate, houses businesses spanning airports, roads, green hydrogen, data centres and mining services. Adani Energy Solutions is one of India’s largest private-sector transmission companies and is expanding its presence in smart metering and distribution infrastructure.

Shares of both Adani Enterprises and Adani Energy Solutions are likely to remain in focus as investors assess the implications of the stake sale and changes in institutional ownership.

NEW YORK — Shares of The Cooper Companies Inc. surged more than 7% Friday morning, climbing to around $66.60, after the medical device maker reported record second-quarter revenue and non-GAAP earnings that exceeded Wall Street expectations, marking the company’s tenth consecutive quarter of beating consensus estimates.

The strong results highlighted resilient demand for CooperVision contact lenses and steady performance in CooperSurgical despite broader market volatility. Investors rewarded the company’s execution and raised outlook confidence even as some analysts adjusted price targets downward on valuation grounds.

CooperCompanies reported fiscal second-quarter revenue of $1.082 billion, an 8% increase from the prior year and ahead of analyst estimates around $1.05 billion. Non-GAAP diluted earnings per share reached $1.21, topping consensus forecasts of $1.10.

“We delivered a strong second quarter, achieving record revenue and non-GAAP earnings per share while marking our tenth consecutive quarter of exceeding consensus earnings expectations,” said Al White, CooperCompanies’ President and CEO.

The performance comes as the company continues to benefit from premium lens demand in its vision care business and stabilizing trends in surgical products. Organic growth and margin improvements underscored operational efficiency gains from recent restructuring efforts.

Business Segment Performance

CooperVision, the company’s larger segment focused on contact lenses, drove much of the growth with solid gains in daily disposable and toric lenses. The unit continues to capitalize on consumer shifts toward healthier, more convenient vision correction options amid an aging population and rising myopia awareness globally.

CooperSurgical reported more modest growth, supported by fertility and women’s health products. While the segment faces competitive pressures, management highlighted progress in integrating acquisitions and optimizing the portfolio for higher-margin offerings.

Free cash flow remained healthy at $96.4 million for the quarter, providing flexibility for potential share repurchases, debt management or strategic investments. The company maintained its full-year non-GAAP EPS guidance in the range of $4.58 to $4.66.

Analyst Reactions and Valuation Adjustments

Several Wall Street firms responded to the results by tweaking price targets while largely maintaining ratings. Baird kept an Outperform rating but lowered its target from $98 to $85. Needham held a Buy rating with a reduced target from $101 to $86. Wells Fargo maintained Equal-Weight and cut its target to $66.

The consensus rating hovers around Hold with an average price target near $87, suggesting potential upside from current levels despite the post-earnings pop. Analysts continue to cite strong fundamentals in vision care but note risks from currency fluctuations, competitive dynamics and macroeconomic pressures on consumer spending.

Company Background and Market Position

The Cooper Companies operates globally through its two main units: CooperVision, a leader in soft contact lenses, and CooperSurgical, focused on women’s health, fertility and surgical devices. The company serves millions of patients worldwide and benefits from long-term demographic trends including population growth, aging and increasing focus on vision and reproductive health.

Recent strategic moves, including board appointments and portfolio optimization, aim to enhance long-term growth. The company has emphasized innovation in premium products and operational efficiencies to navigate a challenging healthcare environment.

Broader Industry Context

The medical device sector has shown resilience in 2026 despite inflationary pressures and supply chain challenges. Demand for elective procedures and daily-use products like contact lenses has remained stable, supporting companies with strong brand portfolios and recurring revenue streams.

CooperCompanies’ results stand out against a mixed backdrop for healthcare stocks, where some peers have faced margin compression or slower growth. The earnings beat provides positive momentum as the company heads into the second half of the fiscal year.

Outlook and Key Risks

Management expressed confidence in its ability to deliver consistent growth through innovation and market expansion. Key focus areas include advancing premium lens technologies and strengthening its position in high-growth surgical categories.

Potential headwinds include foreign exchange volatility, given the company’s international footprint, regulatory changes in healthcare and competition from larger players. A one-time litigation charge of $271.6 million impacted GAAP results but was excluded from non-GAAP metrics.

Investors will monitor upcoming quarterly updates for progress on guidance and any strategic announcements. The stock’s reaction Friday demonstrates continued faith in the company’s ability to execute amid a dynamic industry landscape.

Investment Implications

For long-term investors, CooperCompanies offers exposure to essential healthcare needs with a track record of earnings consistency. The current valuation, while adjusted by analysts, reflects optimism around core growth drivers. Short-term traders may view the post-earnings volatility as an opportunity depending on risk appetite.

The medical device space remains attractive due to innovation cycles and demographic tailwinds. CooperCompanies’ focus on recurring revenue from contact lenses provides stability compared to more cyclical surgical markets.

As markets digest the latest results, the company’s performance reinforces its position as a reliable performer in healthcare. Continued execution on margins and revenue growth will be critical to sustaining investor confidence in the months ahead.

Friday’s surge highlights the market’s positive response to clear operational success and forward-looking stability. With solid fundamentals and a proven ability to exceed expectations, CooperCompanies enters the next phase of fiscal 2026 with momentum.

Despite the Iran war, rising inflation and worries about rising government debt, US stock markets continue to hit all-time highs this year. That’s largely driven by the huge boom in investment in Artificial Intelligence.

The apparent mismatch between sky high stock market valuations and the real economy is beginning to set off some alarm bells ringing among investors. BBC’s Samira Hussain reports from Wall Street.

SAN ANTONIO — The San Antonio Spurs will look to even the 2026 NBA Finals series when they host the New York Knicks in Game 2 on Friday night at Frost Bank Center, after dropping a hard-fought Game 1 at home that saw the visitors rally for a victory.

The Knicks took a 1-0 series lead with a 105-95 win in Game 1 on Thursday, overcoming an early deficit thanks to strong fourth-quarter execution and defensive intensity. Jalen Brunson led New York with 30 points, while Karl-Anthony Towns contributed a double-double. Victor Wembanyama paced the Spurs with 26 points and 12 rebounds in the loss.

Spurs head coach Mitch Johnson expressed confidence in his team’s ability to respond. The Spurs, who finished the regular season with one of the league’s best records, are expected to be sharper at both ends of the floor in front of a passionate home crowd.

Game 1 Recap and Key Takeaways

In Game 1, the Knicks overcame a double-digit deficit to pull away late, limiting the Spurs to just 19 points in the fourth quarter. New York’s playoff win streak reached new heights, showcasing the resilience that carried them through the Eastern Conference playoffs. Brunson’s leadership and the frontcourt presence of Towns proved decisive against San Antonio’s interior defense.

For the Spurs, fatigue may have played a role in the late collapse, as noted by analysts following the game. Wembanyama’s individual brilliance was evident, but supporting cast contributions will need to improve for San Antonio to avoid falling into an 0-2 hole heading to Madison Square Garden.

Matchup Analysis and Strategic Outlook

The Spurs enter Game 2 as home favorites, with betting lines around 5.5 points in their favor. The total is set near 214.5 points, reflecting expectations of a tighter, more competitive contest after Game 1’s lower-scoring affair.

San Antonio’s defensive schemes will likely focus on containing Brunson and disrupting the Knicks’ pick-and-roll actions. Wembanyama’s versatility on both ends remains the cornerstone, with potential for increased minutes and impact if the Spurs can push the pace selectively. Improved three-point shooting and rebounding margins will be critical.

The Knicks, riding high after stealing Game 1 on the road, will aim to maintain their defensive intensity and exploit any continued fatigue in the Spurs’ rotation. Brunson’s ability to create for teammates and Towns’ rebounding presence give New York multiple avenues for success. Coach Tom Thibodeau’s teams are known for physical, gritty play that wears down opponents over a series.

Analysts widely view this series as highly competitive, with home-court advantage potentially playing a significant role. The Spurs must protect their home floor to keep championship hopes alive, while the Knicks seek to build an insurmountable lead before the series shifts to New York.

Team Strengths and Roster Notes

The Spurs boast one of the league’s most dynamic young cores, headlined by Wembanyama’s generational talent. Their regular-season success stemmed from elite defense, efficient offense and depth. Adjustments in Game 2 could include more aggressive double-teaming and better ball movement to create open looks.

New York features a balanced attack with Brunson as the engine, supported by athletic wings and a physical frontcourt. Their playoff experience and recent hot streak make them dangerous on the road. Depth from the bench, including contributions from Mikal Bridges and others, has been a key factor in their postseason run.

Injuries have been minimal for both sides heading into Game 2, allowing coaches to deploy full rotations. Fatigue management will be paramount in what promises to be a physical, high-stakes matchup.

Broader Series Implications

A Spurs victory in Game 2 would tie the series at 1-1 and shift momentum back toward San Antonio, especially with the next two games scheduled for Madison Square Garden. An 0-2 deficit would place enormous pressure on the Spurs, as historical precedent shows teams rarely come back from such holes in the Finals.

Experts point to the Knicks’ road resilience and the Spurs’ home dominance as defining storylines. The series features contrasting styles: San Antonio’s modern, positionless basketball versus New York’s gritty, defense-first approach.

Historical Context and Fan Excitement

This Finals matchup pits two storied franchises against each other in a rare postseason clash. The Spurs’ championship pedigree under previous regimes contrasts with the Knicks’ resurgence in recent seasons. Fans in San Antonio are expected to create an electric atmosphere at Frost Bank Center, aiming to will their team to a response.

Broadcast coverage on ABC will bring the action to a national audience, with analysts anticipating adjustments from both coaching staffs. Pre-game narratives have focused on Wembanyama’s development under pressure and Brunson’s continued ascent among the league’s elite.

What to Watch in Game 2

Key storylines include Wembanyama’s rebounding battle against Towns, Brunson’s efficiency against San Antonio’s perimeter defense, and the effectiveness of bench units. Turnovers, three-point shooting variance and foul trouble could swing momentum quickly in a close contest.

Coaches will emphasize execution in half-court sets and transition opportunities. The Spurs need to start stronger to avoid playing catch-up, while the Knicks will look to sustain their defensive effort over 48 minutes.

As the series unfolds, both teams understand the high stakes. A win in Game 2 for the home side restores balance and sets up compelling storylines for the road games ahead. The Knicks, however, have shown they thrive in hostile environments and could seize control with another strong performance.

The basketball world will be watching to see if the Spurs can leverage home advantage or if the Knicks extend their remarkable run. Game 2 promises intensity, adjustments and potentially pivotal moments that could shape the championship outcome.

With tip-off approaching, anticipation builds in San Antonio and beyond. The Spurs’ response will test their championship mettle, while the Knicks aim to prove their Game 1 success was no fluke. This series is shaping up as a classic battle between emerging talent and veteran playoff savvy.

ET Now caught up with former Infosys Board Member Mohandas Pai for his views on the top level exits in Infosys. Excerpts:

ET Now: There are two ways of looking at it the top level exits in Infosys. On the one hand, a lot of people say that there was a team that was probably not performing well and now they are exiting and that will probably be a positive for the stock over the long run. The sceptics, on the other hand, would argue that there are a lot of people who have been manning the company for the last many years and it is not a pint-sized company, but a Rs 1 lakh 70 thousand crore behemoth. Why have there been so many high profile exits in the company?

Mohandas Pai: There is a leadership vacuum in the company, because they made the wrong choice of CEO three years ago and that is playing out right now. The company has not performed and in June 2011, they had appointed three members on the board and all three of them have gone now and all three have been extraordinary individuals.

Ashok Vemuri is now the CEO of another company, V Balakrishnan had left and has started his own fund and BG Srinivas, I am told, would now be joining some other company as CEO.

So obviously, all three have been CEO materials. It is obvious that the chemistry did not work, or they were not fully empowered. There is a need for the board to sit down and work out a good succession plan and put a new team in place because the entire layer of people below the executive board are now gone and many of them were outstanding performers.

Yes, a few of them possibly were not pulling the weight, but it is not possible that all of them were not doing so. They were extraordinary people and they are performing at other places.