Indian stock news
On July 2, 2026, Adani Enterprises Limited (AEL) announced a landmark strategic partnership with Abu Dhabi--based International Resources Holding (IRH) to develop an integrated greenfield aluminium project in Odisha. The $11.5 billion (₹1.08 lakh crore) 50:50 joint venture involves the construction of a refinery with an annual capacity of four million metric tonnes, an aluminium smelter, and a 4,000 MW captive power plant. This initiative is projected to create approximately 53,500 jobs and represents one of the largest foreign direct investments in India's metallurgy sector. In tandem with this project, AEL launched a ₹10,000 crore Qualified Institutional Placement (QIP) at a floor price of ₹3,034.68 per share to support its aggressive expansion in infrastructure, data centers, and energy transition.