Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

VP Dhankhar Resigns, Citing Health

In a surprising political turn, Vice President Jagdeep Dhankhar resigned from office on Monday, citing medical reasons and the need to prioritize health. The resignation—submitted under Article 67(a)—was effective immediately.

In an emotional letter to President Droupadi Murmu, Dhankhar expressed gratitude for her support and recalled their “wonderful working relationship.” He also thanked Prime Minister Narendra Modi, Members of Parliament, and the Council of Ministers, calling his tenure “a privilege” during a transformative phase of India’s rise.

Known for his sharp legal acumen and parliamentary presence, Dhankhar’s exit comes at a politically sensitive time, raising immediate questions over his successor.

Turbulent Monday for Indian Aviation

Monday saw a series of aviation scares across India.

All incidents ended safely, but they’ve reignited concerns around monsoon preparedness, runway resilience, and aircraft reliability amid growing air traffic.

China’s Giant Dam Raises Red Flags

China has begun building the world’s largest hydropower project on the Yarlung Tsangpo river in Tibet—just upstream from India and Bangladesh. The $167 billion Motuo Dam is projected to generate 3x the output of the Three Gorges Dam.

But India’s not celebrating.

Arunachal CM Pema Khandu called it an “existential threat,” warning the dam could act as a “water bomb” if water is suddenly released. India’s foreign ministry has urged Beijing to respect downstream interests. China, not party to any water-sharing treaty, has promised “no negative impact.”

Assam CM Himanta Biswa Sarma offered a cautious view, saying the river’s flow comes from multiple sources and more study is needed. Meanwhile, India is moving ahead with its own buffer dam project on the Siang river.

Jane Street Cleared to Trade Again

After being barred from Indian markets for alleged ₹43,000 crore index manipulation, US-based hedge fund Jane Street is now back on the NSE and BSE—under tight SEBI conditions.

The firm deposited ₹4,843.5 crore into an escrow account, a key requirement from SEBI’s 3 July interim order. Jane Street denies any wrongdoing, claiming its trades were simple arbitrage.

The return doesn’t mean the probe is over. SEBI will continue monitoring Jane Street’s trades under heightened surveillance, with a final verdict expected in the coming months. Meanwhile, BSE shares jumped nearly 3%, and unlisted NSE stock saw a surge in demand.

Afcons Rides Global Rail Boom

Infrastructure major Afcons just clinched a ₹6,800 crore railway project in Croatia, its second big win in a week. The project involves reconstructing a railway line between Dugo Selo and Novska, including electrification and signaling.

This follows two Croatian road project wins worth ₹4,535 crore, a ₹700 crore Reliance contract in Gujarat, and a ₹463 crore rural water project in Rajasthan.

Despite strong order momentum, Afcons’ stock has underperformed since listing in November at ₹426. It now trades around ₹418, down over 10% from IPO and nearly 27% off its high of ₹570. Still, analysts remain bullish, citing the company’s execution record and robust pipeline.

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