JSW Acquires Power Assets, Jio Platforms Surges in Global Rankings as Biotech Stocks See Major US Milestones

JSW Acquires Power Assets, Jio Platforms Surges in Global Rankings as Biotech Stocks See Major US Milestones​

Corporate & Resource Sector Gains​

NLC India has been designated the preferred bidder for a critical resource block following an e-auction conducted by the Ministry of Mines. The company was awarded the Govindpur Vanadium, Titanium and Aluminous Laterite Block in Sangareddy, Telangana. This move signifies a major allocation of strategic minerals within the public sector mining domain.

Power Grid Corporation of India secured a significant contract for the Inter-State Transmission System (ISTS) project. The successful bid covers establishing the transmission system for proposed green hydrogen and green ammonia projects in Kakinada (Phase I). This development involves setting up a new 765/400 kV GIS substation alongside STATCOM and 765 kV transmission line works in Andhra Pradesh.

Major Acquisitions and Deals​

JSW Energy announced a definitive agreement to acquire 100 percent equity shares of Maruti Clean Coal and Power (MCCPL) for ₹1,410 crore. MCCPL is a 300 MW thermal power project currently operating in Chhattisgarh. Upon closing the transaction, MCCPL will become a wholly owned subsidiary of JSW Energy.

Meesho has announced the acquisition of Kirana Club, a community-led B2B commerce platform. The deal for ₹202.08 crore will be completed in three tranches. Following this purchase, Kirana Club will transition into a wholly owned subsidiary of Meesho.

Pharmaceutical and Biotech Milestones​

Dr Reddy’s Laboratories expanded its oncology portfolio by announcing the first-to-market launch of Bosutinib Tablets 400 mg in the United States. This product is a generic equivalent of Bosulif, making it a first-to-file drug eligible for 180 days of generic drug exclusivity in the US.

Aurobindo Pharma’s subsidiary, Eugia Pharma Specialities, was inspected by the United States Food and Drug Administration (US FDA) facility in Telangana. The inspection process concluded with 11 observations, and the FDA has classified the status as "Official Action Indicated" (OAI). This highlights global regulatory scrutiny for pharma manufacturers.

IPCA Laboratories secured a definitive global licensing agreement from BRL. This deal grants IPCA access to BRL's proprietary high-concentration subcutaneous biologics delivery platform. The technology will be used for developing and commercializing monoclonal antibody products targeting oncology and inflammatory diseases.

Power Infrastructure & Industrial Contracts​

SEPC received a Letter of Acceptance (LoA) worth ₹673.32 crore from Steel Authority of India (SAIL). The LoA is for the 4.08 MTPA crude steel expansion project at IISCO Steel Plant, Burnpur. This contract underscores SEPC's role in expanding critical infrastructure capabilities within the steel industry.

Ashoka Buildcon was awarded a Letter of Acceptance (LoA) from the Chhattisgarh State Industrial Development Corporation. The LoA is for developing a Gems and Jewellery Park in Raipur under a Public-Private Partnership (PPP) model. The premium amount accepted by the company for this project is ₹112.40 crore.

Financial & Banking Sector Updates​

Karur Vysya Bank increased its interest rates on Foreign Currency Non-Resident (FCNR) deposits. The bank is now offering 7 percent per annum on US Dollar (USD) FCNR deposits with tenures of three years and above. This move aims to attract more foreign currency deposits.

Krishna Institute of Medical Sciences approved the preferential allotment of 77.02 lakh warrants worth ₹600 crore to the promoter group. The issue price for the warrant has been fixed at ₹779 per warrant. The Board also greenlit an Extraordinary General Meeting (EGM) of shareholders scheduled for July 9.

Global Rankings and Dividend Announcements​

Jio Platforms, a subsidiary of Reliance Industries, attained a major global milestone in the Patent Cooperation Treaty (PCT) rankings by the World Intellectual Property Organization (WIPO). The company has cumulatively filed 6,817 patents as of March 2026. Of these filings, 1,009 patents have been granted globally, including 538 grants in India and 471 in international markets.

Hindustan Petroleum Corporation's Board recommended a final dividend of ₹19.25 per share for the financial year 2025–26. The record date for this dividend has been fixed as August 14.