Bernstein Highlights NTPC, Power Grid, Muthoot, Paytm

Bernstein recommends NTPC and Power Grid as top power sector picks, citing rising electricity demand and $40 bn annual capex.
Muthoot Finance targeted at INR 4,500, expects >40% FY‑2026 gold‑loan asset growth and EPS up ~95% YoY in Q3.
Paytm rated Outperform with INR 1,500 target, projected EPS rise from INR 9 (FY‑2026) to INR 82 (FY‑2030).
IEA raised India’s power demand growth forecast to 6.4% CAGR (2025‑2030), supporting $40 bn yearly generation investment.