Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.Jet-Lagged in Kerala, may finally leave for home

Jet-Lagged in Kerala, may finally leave for home

A $115 million British F-35B stealth jet has been grounded at Thiruvananthapuram airport since June 14 after bad weather forced it to divert from the HMS Prince of Wales. While engineers work on repairs, the jet has turned into a social media sensation. Kerala Tourism joined the fun with a viral post: “Kerala is such an amazing place, I don’t want to leave.” Cartoons have popped up showing the jet enjoying chai and snacks under palm trees. The UK Defence Ministry has dismissed rumors about dismantling and flying it back via cargo. The aircraft is expected to take off again as early as next week.

Nipah Returns: Kerala on Guard

Kerala is back on high alert after two confirmed cases of the deadly Nipah virus—one fatal. An 18-year-old girl from Malappuram died, while a 38-year-old woman from Palakkad is undergoing treatment. Nearly 500 people are on the contact list, with 29 in the highest-risk category. Despite this, no new cases have been reported, and containment zones in Malappuram have been lifted. A central health team is on the ground coordinating efforts. Nipah is a zoonotic virus with no vaccine, but Kerala’s public health system has managed past outbreaks with early detection and isolation.

Vedanta Called a ‘Parasite’ in Explosive Report

In a scathing 87-page report, US-based Viceroy Research accused Vedanta Resources Ltd (VRL) of draining its Indian arm, Vedanta Ltd (VEDL), through aggressive dividend extraction, shady internal loans, and dubious brand fees. The report calls VRL a “parasite” with no meaningful operations of its own, relying on the Mumbai-listed company to survive. It highlights over $8 billion in dividends paid by VEDL despite falling cash flows, unexplained interest costs, and $1 billion in suspect loans. Viceroy also flagged flashy project announcements with little follow-through, a revolving door of senior execs, and 107 legal disclosures since 2022—far more than peers like Tata Steel. The takeaway? A pattern of poor governance and financial engineering.

Tax Relief for Green Investors

The Indian Renewable Energy Development Agency (IREDA) just received a big push from the finance ministry. Its bonds are now classified as ‘long-term specified assets’ under Section 54EC of the Income Tax Act. Translation: investors can save capital gains tax by investing up to ₹50 lakh annually in these bonds. The proceeds will be used exclusively for revenue-generating renewable energy projects. IREDA chairman Pradip Kumar Das hailed the move as a “pivotal moment” for green finance. The company posted a strong Q4 profit rise but saw a dip in Q1 earnings. Nonetheless, its stock ended 2.26% higher.

Glenmark’s $700 Million Global Leap

Glenmark Pharmaceuticals has struck gold with the biggest outlicensing deal in Indian pharma history. Its US-based unit, Ichnos Glenmark Innovation (IGI), has licensed a breakthrough blood cancer drug to AbbVie for $700 million upfront, with total potential payouts of $1.93 billion. The drug, ISB 2001, is a trispecific antibody targeting multiple myeloma—an aggressive blood cancer that resists conventional treatments. The therapy is still in early trials but has already received orphan and fast track designations from the FDA. Glenmark will retain rights in India and emerging markets, while AbbVie takes it global. “This puts India on the world map,” said Glenmark MD Glenn Saldanha.

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