Any discussion about AI today eventually lands on a single question: is AI a bubble? 🧵👇 Bubbles aren’t always bad. Many big technological shifts, from smartphones to the internet, came out of bubbles. What matters is how a bubble is built and whether the investment remains useful even if it bursts.

300+ Indian companies reported earnings last week.

We dug through most their con calls — and found 22 worth paying attention to.

Here are the 8 sharpest and most revealing things Indian management teams said. The entire marketing strategy of consumer brands hinges on this number. Nykaa’s doubling down on Gen Z isn’t a vibe — it’s math.

The quick commerce industry is moving faster than anyone expected. So much has changed in just a few months that it is worth stepping back to see where things stand. A 🧵 on whats happening. Zepto raised new capital and is now rumored to be inching toward an IPO. Reliance Retail said it has shifted its quick-commerce model to 30-minute delivery by riding on its nationwide store network. Swiggy is raising funds after earlier saying it did not need external capital. Blinkit is adding stores at record speed. The momentum is remarkable.

India’s energy story is entering its most ambitious phase yet.

We’re building new renewable capacity, modernising our grids, and revamping how electricity moves across the country. Here's what's happening 🧵👇 According to the National Electricity Plan, India’s power capacity could hit 609 GW by 2027 and 900 GW by 2032. That’s nearly double today’s capacity.

In October, a bunch of headlines caught our eye: the government was pushing for “coal gasification” and had just opened auctions for underground gasification blocks.

That sounded strange. Coal is solid. How on earth do you turn it into gas? 🧵👇 That question led us down a fascinating rabbit hole.

Because what India’s trying now could completely change how we use coal, our dirtiest but most abundant fuel.

India’s liquor industry just had a strange quarter.

After being the world’s fastest-growing market for three half-years in a row, the momentum suddenly slowed. Spirit makers thrived, but beer companies struggled.

A look at what drove that split and what it says about the industry. A🧵 Through the first half of the year, India’s liquor business seemed unstoppable. While demand in global markets weakened, India’s industry grew 7% year-on-year, a remarkable feat in a slowing world economy.

But last quarter, that story changed.

After a few weak quarters, Indian IT seems to be turning a corner.

TCS, Infosys, and HCLTech all posted improved results in Q2 FY26. But what’s changing isn’t just the numbers; it’s how these companies are rebuilding their business around AI, new markets, and leaner teams.

Here’s a look at what's happening 🧵👇 After a gloomy Q1 marked by layoffs, delayed hikes, and shrinking revenues, the industry seems to have found some footing. The Nifty IT index even hit its highest level since July 2024.

But the rebound isn’t uniform. Beneath the optimistic headlines, some companies have staged real recoveries, while others are only beginning to stabilize.

Recently, SEBI released a detailed order in a front-running case where a small group of traders made over ₹2 crore by trading ahead of a “big client.”

SEBI’s order lays out in meticulous detail how that inside information moved from one person to another, who used it, and how the entire chain of traders stopped the moment SEBI came knocking. A 🧵👇 Front-running, in simple terms, is when someone gets an early tip about a large buy or sell order that hasn’t yet been placed, trades first, and exits once that order moves the price.

China quietly became the world's largest government lender, giving out $800 billion to developing countries. At its peak, it surpassed the World Bank, IMF, and all Western creditors combined. Now the lending has reversed, and a quiet debt crisis is brewing worldwide.

Find out what's happening in this thread below.🧵👇 But curiously, that lending boom has now reversed. Could well spark quiet debt crisis across world. New research by Sebastian Horn, Carmen Reinhart, Christoph Trebesch, three economists who spent years piecing together China's debt puzzle.

Last quarter, Blinkit’s management spoke about what they called a structural shift in their business: moving from a marketplace model to an inventory-led model, where Blinkit owns what it sells.

CFO Akshant Goyal had said:

“most of our business will move to inventory ownership and margin accretion should also happen in that timeframe.” Owning stock changes the unit economics. You don’t just earn a commission, you earn the full spread between buying price and selling price.

Think about it: if Blinkit buys Maggi, say, for all its operations across India, how much cheaper could it get it?

Meanwhile, they also maintain product quality, reduce stock-outs, and maybe even improve overall customer experience. That can add up to more profits and a stronger moat.

Global financial markets look calm right now. Volatility is down, liquidity is also flowing freely. But the IMF's latest stability report shows something unsettling, structural vulnerabilities that could unravel quickly.

Here's everything you need to know.🧵👇 Volatility has been dropping since April 2025, liquidity is flowing freely, and investors are happily buying riskier assets. But peel back that calm exterior, and you'll find unsettling structural problems that could unravel fast if things go south.

This week, India’s Central Electricity Authority (CEA) unveiled a ₹6.4 lakh crore master plan for the power sector, but it’s not about building new dams or power plants. It’s about building the grid itself.🧵👇 CEA's master plan doesn't approve a single new dam. Instead, entire amount is for transmission infrastructure, power lines, substations, high-voltage direct current corridors to evacuate tons of potential hydropower from India's Northeast by 2047.

Today, ~80% of India's organised tea estates fell into cash losses, and premium Assam teas have crashed 27%. But one question looms large—how is a country that swears by chai hurting so badly in tea production?

Let's find out. 🧵👇 Hemant Bangur, chairman of the Indian Tea Association, warned that "only a handful of estates will achieve positive EBITDA, thus eroding the industry's financial foundations further." Tea prices have crashed from ₹304/kg to ₹221/kg. The ITA is calling for a minimum support price.

India's "growth story" has echoed in boardrooms for decades. But an economic slowdown in recent years has sparked worrying commentary. One thing caught our attention—private capex, the engine of long-term growth, is failing us.

Let's find out why. 🧵👇 When businesses build new factories, set up plants, or invest in new technology, they create jobs, boost demand for raw materials, and set up future production capacity. Government spending helps, but private companies make growth broad-based and self-sustaining.

What does it take to build a global financial hub from scratch?
India’s been trying to do exactly that with GIFT City, its answer to Singapore and Dubai.

But building a financial hub is one of the hardest things to get right. Let’s see why.🧵👇 India just launched a Foreign Currency Settlement System at GIFT City, allowing dollar transactions without routing through overseas banks. But here's what's fascinating, in 2015, Gujarat's finance minister claimed GIFT would be among world's top 5 financial centers.

Microfinance in India has this pattern, it runs too hot, then too cold. After the pandemic, lenders went on a spree as money was cheap and demand was high. But maybe too cheap, borrowers took 5-6 loans from different lenders all at once.🧵👇 By late 2023, repayment troubles started bubbling up. What followed was a familiar downcycle. By early 2024, stress was everywhere. Micro-loan growth, which had been roaring, suddenly hit the brakes.

Your morning coffee, your smartphone, even the steel in your car, they all traveled by ship. 90% of everything we touch moves by sea, yet nobody talks about who builds these ships. China quietly captured 53% of this market, and India just bet ₹69,725 crore to catch up 🧵👇 Ships are the unsung plumbers of global commerce. Without them, iron ore doesn't reach steel mills, oil doesn't reach refineries, and your electronics don't reach your doorstep. China now builds 53% of the world's ships, rising from third to first place in just a decade.

After a decade of playing cat-and-mouse with Amazon, India just blinked. A new draft proposal could let e-commerce platforms directly buy from Indian sellers and export them, something currently prohibited. This is the first major liberalization in years, and it's stirring both hope and outrage.🧵👇 India has always been suspicious of foreign-owned e-commerce platforms. We prohibited them from holding inventory or selling directly to consumers, either at home or abroad. They had to operate as mere marketplaces, strictly middlemen connecting independent sellers to buyers.

We sat down with @ishmohit1 (@soicfinance) to decode the $45B GLP-1 revolution, why people on these drugs hate food, how Novo bought a bottleneck, and what India should watch.

This thread unpacks everything, from the physiology to the supply chain to the investment plays 🧵 GLP-1 drugs mimic a natural hormone that makes you feel full and supports insulin release, you eat less, see better glucose control.

"There's a magic pill vibe, but that's an oversimplification." Benefits cascade, weight loss, improved cholesterol, kidney endpoints.

Jindal Steel just made a non-binding offer to buy the steel business of Germany-based Thyssenkrupp, one of the largest European steel businesses. This isn't a signed deal yet, but Jindal is ready to splash billions of euros on one of Europe's oldest steel names.🧵👇 Thyssenkrupp operates the largest steel plant in Europe at Duisburg, but it's also one of the dirtiest by emissions, still running on old coal-fired blast furnaces. To keep selling steel in Europe with its strict climate rules, Duisburg must be rebuilt at enormous cost.

The Indian Supreme Court just delivered a sweeping 50-page verdict that could fundamentally reshape India's residential real estate industry. What started as a simple bankruptcy dispute became a blueprint for cleaning up one of India's most troubled sectors.🧵👇 It began with speculative investors trying to use India's bankruptcy system to recover money from failed real estate projects. The court threw out their cases, but then did something remarkable, declaring housing a fundamental right for all Indians.