Bajaj Finance reports a robust quarter with strong performance across key metrics. AUM increased by 24%, reaching ₹462,261 crore. The company booked 12.17 MM new loans and added 4.13 MM new customers, bringing the total customer franchise to 110.64 MM. Cost of funds improved to 7.52%. The company also continues its FINAI transformation for better customer experience.

Financial Highlights

Bajaj Finance showcased strong volume, AUM, and profitability. Key highlights for the quarter include:

• AUM Growth: Up 24% to ₹462,261 crore.
• New Loans: Booked 12.17 MM new loans.
• Customer Addition: Added 4.13 MM new customers.
• Customer Franchise: Total franchise stood at 110.64 MM.
• PBT: ₹6,608 Cr, Growth 22%
• PAT: ₹4,948 Cr, Growth 23%
• ROE: 19.1%
• Net NPA: 0.60%

Key Financial Indicators

• AUM Growth: AUM grew by ₹20,811 crore in Q2 FY26.
• New Loans Booked: 12.17 MM in Q2 FY26, a 26% increase.
• Customer Franchise: Stood at 110.64 MM.
• Cost of Funds: 7.52%, a 27 bps improvement over Q1 FY26.
• Deposits: Grew by 5% YoY.
• Net Interest Income: Up by 22% to ₹10,785 crore.
• Net Total Income: Increased by 20% to ₹13,170 crore.
• Employee Count: 67,461 employees.

BHFL Key Highlights

• AUM growth of 24%
• PAT growth of 18%
• GNPA at 0.26%

BFSL Key Highlights

• AUM growth of 27%
• PAT growth of 27%
• Added 94K customers

Strategic Initiatives

Bajaj Finance is focused on:

• Urban, Rural, MSME, Commercial and Payments businesses
• Leveraging AI, digital transformation, and cloud computing
• Customer experience and product & process innovation

Source: BSE

Infosys’ board has approved a buyback of up to 10,00,00,000 equity shares at a price of ₹1,800 per share, totaling ₹18,000 crore. The buyback, representing 2.41% of the total paid-up equity capital, will be executed through a tender offer. This decision aligns with the company’s capital allocation policy and aims to return surplus cash to shareholders while enhancing long-term value.

Details of the Buyback Offer

Infosys has announced a buyback of its equity shares via tender offer, aiming to return surplus cash to shareholders. The key highlights of the buyback include:

• Maximum Buyback Size: Up to ₹18,000 crore
• Buyback Price: ₹1,800 per equity share
• Number of Shares: Up to 10,00,00,000 equity shares (approximately 2.41% of the total paid-up equity share capital)
• Route: Tender offer

The buyback is being conducted in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 and the Companies Act, 2013.

Rationale for the Buyback

The company is undertaking the buyback for the following reasons:

• To return surplus cash to members, in line with the stated Capital Allocation Policy.
• To improve return on equity through distribution of cash and improve earnings per share by reduction in the equity base in the long term, thereby leading to long term increase in members’ value.
• To give an option to all the members of the Company as on the Record Date, either to sell their Equity Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.

Financial Position and Cash Flow

As of June 30, 2025, Infosys had consolidated cash and investments of ₹45,204 crore. The company believes its strong financial position allows it to reward its members while retaining sufficient capital for business requirements.

Key Dates and Procedures

The record date for determining eligible shareholders is November 14, 2025. The tender period will commence from November 20, 2025 and remain open until November 26, 2025. Eligible shareholders will receive a Letter of Offer detailing the buyback process and their entitlement.

Promoter Participation

The promoter and promoter group have expressed their intention of not participating in the Buyback. Accordingly, the equity shares held by members of the Promoter and Promoter Group shall not be considered for computing the entitlement ratio.

Details for ADS Holders

Holders of American Depositary Shares (ADSs) are not eligible to directly tender ADSs in the buyback. They must cancel their ADSs and withdraw the underlying Equity Shares prior to the Record Date to participate.

Source: BSE

Infosys has announced a buyback of up to 10,00,00,000 fully paid-up equity shares, each with a face value of ₹5. The buyback will be executed at a price of ₹1,800 per share, totaling up to ₹18,000 Crore. The decision was made based on shareholder approval and will proceed through a tender offer route via stock exchange mechanisms. The buyback is designed to return surplus cash to shareholders and improve earnings per share.

Equity Share Buyback

Infosys’ shareholders have authorized a buyback of the company’s fully paid-up equity shares. The buyback includes up to 10,00,00,000 shares, each with a face value of ₹5. The approval for the buyback plan was initially announced on November 6, 2025.

Financial Details of the Buyback

The buyback will be executed at a price of ₹1,800 per equity share. This results in an aggregate consideration of up to ₹18,000 Crore for the total buyback program. The buyback will be conducted on a proportionate basis through a tender offer route, utilizing stock exchange mechanisms.

Purpose and Method

The buyback aims to return surplus cash to equity shareholders efficiently and to enhance key financial metrics. This will be executed by purchasing shares directly from shareholders who choose to participate in the tender offer. The buyback will be carried out in accordance with applicable laws and regulations.

Source: BSE

Cummins India reported strong Q2 FY26 results, with revenue increasing by 28% year-over-year to ₹3,122 crore. Domestic sales grew by 28%, while exports increased by 24%. Profit before tax (before exceptional items) rose by 41%. The power generation segment saw substantial growth, driven significantly by data center projects. The company anticipates double-digit revenue growth for the full fiscal year.

Financial Performance

Cummins India announced its financial results for Q2 FY26, showcasing robust growth across key metrics. The company’s total revenue for the quarter reached ₹3,122 crore, a 28% increase compared to the ₹2,448 crore recorded in the same period last year. Domestic sales contributed ₹2,577 crore, reflecting a 28% rise, while exports amounted to ₹545 crore, marking a 24% increase. Profit before tax before exceptional items stood at ₹839 crore, a notable 41% increase.

Segmental Performance

The power generation segment stood out with significant growth in domestic sales, reaching ₹1,340 crore, a 49% increase year-over-year and a 27% increase compared to the previous quarter. This growth was largely propelled by strong execution in data center projects. The distribution business reported sales of ₹796 crore, a 21% increase year-over-year. Industrial business sales were ₹387 crore, slightly decreasing by 5% compared to the same quarter last year. High horsepower exports were ₹279 crore, and low horsepower exports reached ₹219 crores.

Outlook and Future Strategy

Looking ahead, Cummins India expects to maintain a double-digit revenue growth trajectory for the full fiscal year 2025-26. While the company acknowledges increasing competition in the power generation sector, it remains focused on delivering value through technology and reliability. The industrial segment saw a decline due to extended monsoons impacting construction activities and a slowdown in mining tenders. The company is actively working to reduce lead times and improve capacity to meet growing demand.

Data Center Impact

Data center projects significantly contributed to the power generation segment, accounting for approximately 40% of power generation sales in Q2 FY26. The company notes that this segment can be lumpy due to project execution timelines and site clearances. Cummins India aims to strengthen its presence in the data center market by continuously improving its capacity and reducing lead times.

Source: BSE