Moody’s Investors Service on Tuesday upgraded the corporate family rating for Tata Motors to ‘Ba1’ from ‘Ba2’ while reiterating its stable outlook for the company. Strong performance from Jaguar Land Rover and improvement in Tata Motors’ domestic operations, particularly the commercial vehicle segment, has led to an upgrade in ratings for the company, Moody’s said in the press release. Moody's expect expect JLR to continue to dominate the group’s revenue and EBITDA (earnings before interest, taxes, depreciation and amortisation), with its broadening product range. Shares of Tata Motors edged down 1.35 per cent at ₹337.7 on the NSE.

Maithan Alloys has informed the exchanges that due to heavy rains and flood, there has been severe damage to power transformer and other electrical equipment installed at the company's Visakhapatnam plant. The full damage is yet to be ascertained, Maithan Alloys said. The transformer and other electrical equipment are fully insured, the company said. The production at the plant could be significantly affected over the next few months, it added. Shares of Maithan Alloys slipped 4.65 per cent at ₹238.35 on the NSE.

Realty firm Puravankara Projects plans to raise up to ₹1,500 crore by issuing non-convertible debentures (NCDs) for execution of its projects. The Bengaluru-based firm also proposes to change its name to Puravankara Ltd. The company sought approval of its shareholders for raising funds through NCDs and changing the name of the company through postal ballot. Shares of Puravankara Projects closed at ₹47.25, down 0.9 per cent on the NSE.

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