Shares of Raymond Ltd. declined the most in over four weeks after it announced the sale of its fast-moving consumer goods business and a demerger of its consumer care and pure-play realty segments.
Shares of Mphasis Ltd. rose the most in four weeks as the company's Ebitda beat analyst estimates, despite declining in the fourth quarter of fiscal 2023.
S&P Global Ratings has upgraded Tata Motors Ltd. and TML Holdings Pte. to 'BB' rating on earnings improvements, potential deleveraging and stable outlook.
Shares of Kotak Mahindra Bank Ltd. advanced the most in 17 months on Tuesday, as analysts expect MSCI to increase the bank's weigh in May 2023 review because of the drop in foreign shareholding.
The FPI shareholding in the company fell from 42.7% to 41.2% sequentially in the fourth quarter of FY23. The drop in shareholding expanded the bank's foreign room to 25%.
Shares of Reliance Industries Ltd. advanced the most in four months after getting approval to spin off the financial services business of the company.
The National Company Law Tribunal, Mumbai, has given its initial nod to the spin-off of the financial services business of Reliance Industries Ltd.
The new financial arm, Reliance Strategic Investments Ltd., will be later renamed Jio Financial Services. The court has called for a meeting of the shareholders of Reliance on May 2.