Market

At 12:17 pm, shares of Cochin Shipyard were trading 10.37% higher at Rs 1,740.80, while GRSE was trading 15.92% higher at 2,220. Mazagon Dock Shipbuilders was also up over 5%.

At around 10:30 am, shares of the company were trading 4.41% higher at Rs 156.10 on the BSE. The rally was sparked by fresh optimism following disclosures from top company officials about the scale and focus of Tata Steel's expansion plans.

At last count, the stock was trading at Rs 556.45, down 64.36% from its previous close of Rs 1,561.30. The sharp fall coincided with the ex-date of the demerger, when Raymond shares stopped factoring in the value of its real estate business.

At first glance, the headline numbers seemed disappointing. A 51% year-on-year drop in consolidated net profit to Rs 8,470 crore and flat revenue at Rs 1.19 lakh crore. But despite the sharp dip in profit, Tata Motors outperformed Street expectations.

As per the approved scheme, Raymond shareholders will receive one equity share of Raymond Realty for every share held in Raymond. The standalone real estate company is expected to be listed during the September quarter of FY26.

At 9:29 am, the BSE Sensex was up 462.27 points at 81,610.49, while the NSE Nifty50 rose 135.35 points to 24,713.70. Both indices extended gains shortly after the opening bell, signalling bullish momentum. 

Gift Nifty futures were quoting at 24,729.5 as of 8:15 am, suggesting the Nifty 50 could open comfortably above Tuesday's close of 24,578.35. This comes a day after the Sensex and Nifty logged their steepest single-day losses in a month.

The S&P BSE Sensex was down by 1,281.68 points to end at 81,148.22, while the NSE Nifty50 lost 346.35 points to close at 24,578.35. 

The market pulled back from the gains made in the last session. The Sensex dropped over 1,000 points in early trade, and Nifty also slipped as investors booked profits.