ADS-TEC bags supply, installation of 10-MW/20-MWh BESS in Germany

Indian benchmarks were set for a firm open, with Nifty 50 up 0.08% and Sensex up 0.49% at pre open, after July retail inflation rose to 4.45% (per data released after Wednesday’s close). MSCI’s periodic review will add Laurus Labs, Lenskart, Adani Energy Solutions and Groww. Bank of America plans to buy up to 49.9% of Jio Financial Services’ NBFC arm for ₹18,268 crore. Apollo Hospitals’ quarterly profit rose 34% YoY; Tata Motors reported higher Q1 profit. Oil eased as demand forecasts were cut;

Adani Group shares rose after a US court dismissed with prejudice fraud-related charges against Gautam Adani, Sagar Adani and Vneet Jaain. The US District Judge Nicholas Garaufis accepted the DOJ’s narrow “puffery” argument and barred reopening the case. Adani Enterprises gained 2.6% to ₹3,080; Adani Green Energy rose 3.5%. The SEC civil settlement is $18 million.

Adani Enterprises won bids to operate five Indian airports—Ahmedabad, Lucknow, Jaipur, Thiruvananthapuram and Mangalore—after financial bids were opened Monday, according to the report. The government invited bids for 50-year PPP concessions using a per-passenger fee model. Guwahati was stayed by a High Court. Adani’s per-passenger bids were higher than rivals (e.g., Ahmedabad Rs 177 vs GMR Rs 85).

Adani Energy Solutions (AESL) said it signed a binding agreement to buy 100% of smart metering firm IntelliSmart Infrastructure for Rs 3,050 crore, including redemption of optionally convertible debentures held by NIIF. IntelliSmart runs 2.2 crore+ meters across five states. AESL expects the deal to raise its total portfolio to 4.7 crore+ meters, subject to approvals and closing conditions.

BioNTech (NASDAQ:BNTX) halted a mid-stage trial of its mRNA cancer vaccine, autogene cevumeran, due to an overall survival imbalance. The decision raises concerns about its mRNA strategy in colorectal cancer and other 'cold' tumors. BioNTech plans to continue other trials, including one for pancreatic cancer and BNT113 for head and neck cancer. The company also focuses on diversifying its oncology pipeline. According to Reuters, the news caused a 7.5% drop in BioNTech's US-listed shares.

Volkswagen (VW) plans to produce components for Israel's Iron Dome missile defense system at its Osnabrück, Germany factory. The move is part of VW's restructuring efforts amid economic challenges and competition. The project involves a joint venture with Israeli defense company Rafael and the German state of Lower Saxony, aiming to overcome opposition from Qatar's sovereign wealth fund, a VW stakeholder. This marks VW's return to defense-related manufacturing as European defense spending rises.