Paytm’s Q2FY26 earnings call emphasized the integration of AI to enhance both cost efficiency and product innovation. The company is focused on replicating its financial services stack globally, with key areas including merchant payments, credit, brokerage, and potentially insurance. Management highlighted the potential for AI to drive revenue and improve customer experience, and anticipates the current positive business momentum to persist.

AI-Driven Business Model

Paytm is heavily integrating Artificial Intelligence (AI) into its business model. Initial efforts focused on cost reduction and efficiency, now expanding to product and feature development. New AI products are planned, leveraging in-house voice models and foundationally inferred use-cases. The company expects continued cost savings through AI, with potential for infrastructure and use-case expansion. Management sees AI as a key component for future growth, and a substantial revenue driver.

Global Expansion of Financial Services

Paytm is focused on replicating its financial services stack globally, building upon its success in India. Key elements of this stack include merchant payments and credit, with plans to incorporate brokerage and potentially insurance services. The company aims to identify suitable countries for expansion within the next three years, focusing on markets where its technology and product offerings can be effectively replicated. This international expansion is a major future investment area for Paytm.

Strategic Priorities and Growth Drivers

Key strategic priorities include democratizing financial services through offerings like Postpaid and expanding partnerships with banks. Paytm is also seeing significant growth in EMI disbursements and is partnering with various EMI issuers. This is contributing to increased net payment margins. The company plans to focus on maximizing monetization of its existing customer base and enhance personalization of services while also improving operational efficiencies.

Key Financial Discussion Points

The earnings call included discussions on various financial aspects including net payment margin improvements and indirect cost management. Marketing service revenues mainly driven by advertising and travel, are expected to grow. Improved insights from AI are expected to drive business efficiency. Management expressed optimism about maintaining current business momentum and continuing to innovate across its various segments.

Source: BSE

Titan Company has released the transcript of its Q2 FY’26 earnings conference call held on November 4, 2025. The call discussed the company’s unaudited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2025. Key executives addressed questions regarding consumer behavior, gold prices, buyer growth strategies, store expansions, and outlook for various segments including jewellery, watches, and eyewear.

Earnings Call Highlights

The earnings call transcript provides insights into Titan Company’s performance and strategies for the second quarter of fiscal year 2026. Key discussion points include:

• Consumer behavior in response to rising gold prices.
• Strategies to stimulate buyer growth, including gold exchange campaigns and focus on lower carat offerings.
• Performance of various business segments, including jewellery, watches, and eyewear.
• Store expansion plans and focus on renovating existing stores.

Jewellery Segment

Ajoy Chawla noted a holdback in consumer spending during the meteoric rise of gold prices, with fence-sitters jumping in during the festive season, particularly in the mid- to higher-price bands. He also highlighted a marginal increase in studded buyer growth compared to gold jewellery buyer growth. The company is focusing on populating price points in the sub INR 1 lakh range and introducing lower caratage options to stimulate buyer demand.

Watches and Wearables Segment

Kuruvilla Markose mentioned that the festive period saw a 16% growth compared to the previous year, driven by premiumization and new launches like Jalsa, Stellar, and Edge Ultraslim. The division is focusing on premiumizing its brands and expanding the presence of Helios and Helios Luxe stores.

Eyewear Segment

N. S. Raghavan stated that the eyewear segment is estimated to close the year at a growth rate between 13% to 14%. The company is investing in transitioning from a brick-and-mortar model to an omni-channel approach and leveraging marketing investments to create more aspiration for the brand. They are focusing on both vision and fashion, ensuring a good consumer experience.

Strategic Initiatives

Titan Company is implementing a gold exchange campaign to stimulate buyer demand and contribute to the country. The company is also focusing on absolute growth in profits by gaining market share, and maintaining margins within the guided range. They are working to optimize various levers to drive business growth while managing costs effectively.

Q&A Session Insights

During the Q&A session, executives addressed questions on various topics, including the impact of rising gold prices on margins, store opening targets, and competitive intensity in the jewellery market. They also discussed the potential of Lab Grown Diamonds (LGDs) and the performance of high-value studded jewellery.

Source: BSE

Reliance Power Limited has issued a clarification regarding the arrest of Mr. Amar Nath Dutta. The company states that Mr. Dutta has no connection to Reliance Power and that his arrest will not impact the company’s business operations or financial performance. Reliance Power also clarified that media reports incorrectly reference Shri Anil D. Ambani, who is not currently on the Board.

Clarification on Arrest

Reliance Power Limited has addressed recent press reports concerning the arrest of Mr. Amar Nath Dutta, which occurred on November 7, 2025. The company clarifies that this event is related to a matter of a fake bank guarantee.

Company Statement

Reliance Power Limited asserts that Mr. Amar Nath Dutta has no association with the company. The company also affirms that this situation will not affect its business operations, financial performance, shareholders, employees, or any other stakeholders.

Subsidiary and Media Clarification

The Company also reiterated that its subsidiary, Reliance NU BESS Limited, and its employees acted lawfully and are victims of fraud. Furthermore, the company clarified that media reports incorrectly cited Shri Anil D. Ambani, who has not been on the Board of Reliance Power Limited for more than 3.5 years.

Source: BSE

The Competition Commission of India (CCI) has approved the acquisition of Aadhar Housing Finance. The acquirers are BCP Asia II Holdco VII Pte. Ltd. along with Blackstone Capital Partners and AXDI LDII SPV 1 LTD. The approval was granted on November 7, 2025. The detailed order from the CCI is still awaited. This acquisition will proceed following regulatory clearance.

Acquisition Approved

A significant development has occurred regarding the acquisition of Aadhar Housing Finance. The Competition Commission of India (CCI) has given its approval for the deal.

Key Parties Involved

The acquisition involves:

• BCP Asia II Holdco VII Pte. Ltd. (the “Acquirer”), along with Blackstone Capital Partners
• AXDI LDII SPV 1 LTD

The Acquirer will purchase shares from BCP Topco VII Pte. Ltd., the promoter of Aadhar Housing Finance Limited. According to the agreement, the Acquirer will acquire up to 28,20,52,121 equity shares. AXDI LDII SPV 1 LTD is also set to acquire 44,139,236 equity shares.

CCI Approval Details

The CCI granted its approval on November 7, 2025. While the approval has been communicated, the detailed order from the CCI is still pending.

Source: BSE