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Indian cricketer KL Rahul has acquired a 10% stake in the Goa Guardians franchise of the Prime Volleyball League (PVL), valuing the team at about ₹50–70 crore, according to people familiar with the matter.Goa Guardians, the league’s tenth franchise, is owned by Netenrich chairman Raju Chekuri.Launched in 2019, PVL is valued at around ₹500 crore and aims to grow volleyball’s popularity in India through a franchise-driven model.“This feels like a full-circle moment for me. PVL is a turning point for the sport in India. The goal is to give volleyball the spotlight so more people watch and love it,” Rahul said.Industry executives said Rahul’s investment reflects the growing interest among top athletes and celebrities in backing emerging sports leagues.“We are delighted to have KL Rahul join our ownership group. His passion for volleyball and belief in its potential will help us build a franchise that inspires fans and empowers athletes. With the right platform, volleyball can become India’s next Olympic success story,” said Chekuri.Raj Chekuri, Managing Director of Goa Guardians, added: “It means a lot to have KL with us, and we couldn’t have a better partner on this journey. He truly shares our ambition of making India a dominant force in global sport. His involvement will help raise volleyball’s profile and create opportunities for the next generation of athletes nationwide.”PVL CEO Joy Bhattacharjya said: “KL Rahul’s support adds immense value to our dream of seeing India compete in volleyball at the Olympic Games and will help attract fans and accelerate the sport’s growth.”Other PVL franchise owners include PhonePe co-founders Sameer Nigam and Rahul Chari (Mumbai), Curefoods founder Ankit Nagori (Bengaluru), Muthoot Pappachan Group (Kochi) and actor Vijay Deverakonda (Hyderabad).All league matches will air on Sony Sports Network and stream on PVL’s YouTube channel from October 2–26.

Shares of Adani Power declined as much as 6% to their day’s low of Rs 160.25 on the NSE on Tuesday, September 23, after investors booked profit following a massive 35% surge in the counter after the company’s 1:5 stock split and positive brokerage views amid SEBI's clean chit on stock manipulation.The stock turned ex-split yesterday, following shareholder approval earlier this month, a move aimed at making the company’s shares more accessible to retail and small investors. The stock ended the session in a 20% upper circuit on Monday.Also read: Adani Power shares crash 80% in just one day! Is that true?Last week, Morgan Stanley initiated coverage on Adani Power with an Overweight rating and a price target of Rs 818 per share. The brokerage highlighted Adani Power as India’s largest private coal-based independent power producer with 18.15 GW of operational capacity. It projected the company’s portfolio to nearly 2.5x to 41.9 GW by FY32, lifting its market share in coal-based capacity from 8% in FY25 to 15% by FY32.The report projects EBITDA to triple by FY33, reaching Rs 67,200 crore, reflecting a 17% CAGR over FY25–33. Net profit is forecast at Rs 11,740 crore in FY26, rising to Rs 15,316 crore by FY28. Revenue is estimated at Rs 55,015 crore in FY26, increasing to Rs 70,057 crore by FY28. Operating margins are expected to remain strong, with EBITDA rising from Rs 21,305 crore in FY25 to Rs 30,453 crore in FY28.Much of the buying also came on the back of the Securities and Exchange Board of India (Sebi) clearing the Adani Group of stock manipulation allegations, reinforcing investor confidence in the conglomerate. The market regulator, in two detailed orders on Thursday, dismissed claims by U.S.-based short-seller Hindenburg Research that Adani entities had routed funds through related parties to manipulate stock prices.Read more: Jefferies finds Adani Green Energy shares trading at 63% discount. Check target priceIt isn’t just Adani Power. Other Adani Group companies, such as Adani Green Energy, Adani Energy Solutions, Adani Ports and Special Economic Zone, Adani Total Gas, slipped up to 4% in the morning. The flagship firm, Adani Enterprises, also edged lower.On Monday, the combined market capitalization of all 10 Adani Group stocks jumped by Rs 1.7 lakh crore in just two trading sessions to cross the Rs 15 lakh crore mark.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Gold October futures on MCX surged to a new all-time high of Rs 1,12,419 per 10 grams on Tuesday, rising Rs 8,124 or 0.11% in early trade. The precious metal has broken previous highs, reaffirming strong bullish sentiment amid persistent safe-haven demand ahead of the Fed Chairman’s speech.With today's high, gold October futures have now soared over Rs 23,000 from their lifetime low of Rs 88,400 — marking a stunning rally driven by global uncertainty and investor confidence.Silver December futures on MCX, on the other hand, started the day with a muted performance, trading at Rs 1,33,531/kg, 0.02% lower at Rs 24.On Monday, gold and silver settled on a positive note in the domestic market and international markets. Gold October futures contract settled at Rs 1,12,230 per 10 grams with a gain of 1.17% and silver December futures contract settled at Rs 1,33,555 per kilogram with a gain of 2.86%.Gold and silver extended their gains and set new records ahead of the Fed Chairman’s speech. Gold prices hit a life high and silver prices hit a 14-1/2 year high in the international markets, while both precious metals set new record highs in the domestic markets.“The Fed cut interest rates by 25 basis points last week and the market is widely expecting 50 basis points more cuts by the end of this year,” noted Manoj Kumar Jain of Prithvifinmart Commodity Research.“Robust global central banks buying, increasing ETF inflow and safe-haven buying continue to support gold and silver prices. We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in the global financial markets and ahead of the U.S. core PCE price index data and gold are expected to trade in the range of $3,654-3,840 per troy ounce and silver is expected to trade in the range of $42.40-45.50 per troy this week,” he added.The dollar index is also not sustaining at higher levels and the rupee is weakening against major global currencies and supporting prices of gold and silver. Today, the US Dollar Index, DXY, was hovering near the 97.36 mark, gaining 0.03 or 0.03%.How to trade gold?Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:Gold has support at Rs 1,11,800-1,11,180 and resistance at Rs 1,12,800-1,13,300Silver has support at Rs 1,32,300-1,31,000 and resistance at Rs 1,34,500-1,36,000Jain suggests buying gold around Rs 1,11,800 with a stop loss of Rs 1,11,180 for a target of Rs 1,13,000 and also suggests buying silver around Rs 1,32,500 with a stop loss of Rs 1,31,200 for a target of Rs 1,35,000.Gold rates in physical marketsGold Price today in DelhiStandard gold (22 carat) prices in Delhi stand at Rs 84,624/8 grams while pure gold (24 carat) prices stand at Rs 90,832/8 grams.Gold Price today in MumbaiStandard gold (22 carat) prices in Mumbai stand at Rs 84,680/8 grams while pure gold (24 carat) prices stand at Rs 90,888/8 grams.Gold Price today in ChennaiStandard gold (22 carat) prices in Chennai stand at Rs 83,688/8 grams while pure gold (24 carat) prices stand at Rs 89,856/8 grams.Gold Price today in HyderabadStandard gold (22 carat) prices in Hyderabad stand at Rs 83,600/8 grams while pure gold (24 carat) prices stand at Rs 89,832/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

YES Bank has surged roughly 10% over the past month, as investors respond to Japan’s Sumitomo Mitsui Banking Corp (SMBC) raising its stake to nearly 25%, a strategic move widely seen as a vote of confidence in the private lender’s turnaround. Analysts say the stock, trading above all key technical levels, could target Rs 25 in the near term, while momentum indicators suggest the rally still has room to run despite edging toward overbought territory.The stock is trading above all eight of its key simple moving averages, with the Relative Strength Index at 68.7 and the MACD in bullish territory. “The momentum is still solid, but it's important to monitor for any signs of slowing down, particularly if the RSI crosses above 70 or the price shows any signs of overextension,” said Drumil Vithlani, Technical Research Analyst at Bonanza. Vithlani identified immediate resistance around Rs 23 and near-term targets around Rs 25, with support near Rs 19.87.Amruta Shinde, Research Analyst at Choice Broking, noted bullish chart patterns confirming the uptrend. “The recent breakout above Rs 20.66 strengthens the bullish outlook and opens room for upside toward Rs 22.36 in the near term, with an extended target of Rs 25.37 if momentum sustains,” Shinde said, while cautioning that profit booking could trigger minor corrective dips.Harshal Dasani, Business Head at INVasset PMS, said the technical setup remains constructive but RSI nearing 69 calls for short-term caution. “YES Bank does show signs of edging toward overbought territory, with RSI hovering close to 69 — typically a zone where short-term caution is warranted,” he said, adding that immediate support lies at Rs 20–21 and resistance at Rs 22.5–23, with a breakout opening the path to Rs 25.SMBC stake and strategic growthYES Bank is using SMBC’s backing to explore entry into India’s $1 trillion wealth management market. “Wealth is an area we’re seriously considering. SMBC’s backing gives us the confidence to explore this space,” CEO Prashant Kumar told Bloomberg News.Dasani described SMBC’s nearly 25% stake as pivotal. “Sumitomo Mitsui Banking Corporation’s nearly 25% strategic stake is a major vote of confidence for YES Bank’s turnaround story and has materially strengthened its capital position,” he said. The partnership is expected to enhance capital-raising ability, support the bank’s 10–12% loan growth guidance, and fund plans to add 400 new branches over the next five years.Q1 FY26 performance and rating prospectsYES Bank reported a net profit of Rs 801 crore in Q1 FY26, up 60% from a year earlier, with provisions falling 11% sequentially and gross NPAs steady at 1.6%. Kumar told PTI that SMBC’s investment creates “possibilities” for a rating upgrade. “A bank which was about to close down has not only survived but is also doing very well and able to get one of the very large foreign investments,” he said.Dasani said that a potential rating upgrade could meaningfully influence institutional and corporate investor engagement. “A potential rating upgrade would be an important milestone for YES Bank and could meaningfully influence how institutional investors and corporates engage with it,” he said.Also read | Ola Electric vs Ather Energy shares: Which EV bet looks stronger for your portfolio right now?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)