The kitchenware maker reported a 21 percent drop in revenue to Rs 146 crore in the fourth quarter of FY20. The company informed in its press release that operations - including production and sales were impacted due to the nationwide lockdown imposed to curb the spread of Covid-19.

Net profit fell 30.4 percent to Rs 9.4 crore while Ebitda declined 34.1 percent from the previous year to Rs 14.5 crore. Ebitda margins narrowed to 9.9 percent from 11.9 percent.

In view of the prevailing situation due to the pandemic, the company has not declared any dividend. Declaration of a suitable dividend would be considered once the situation normalises, the company said in a statement.

Shares fell as much as 12.3 percent - its biggest one-day fall since February 2015 to Rs 3,985.

Private equity firm KKR will be investing Rs 11,367 crore in Jio Platforms, making it the fifth large investor that the company has sold stake to.

The sum invested amounts to a 2.32 percent stake in Jio Platforms. The deal values Jio Platforms at an equity value of Rs 4.91 lakh crore.

The press release further stated that this was KKR's largest investment in Asia.

Shares gained as much as 1.2 percent to Rs 1,458 and are up for the third straight day.

The company has informed the exchanges that the class action lawsuit, filed against the company in the U.S. District court, was dismissed by the plaintiff, without prejudice.

The lawsuit was filed against the company and some of its currenct and former officials on behalf of a class of persons or entities who purchased the shares of the company between July 2018 and October 2019, the statement said.

Shares gained as much as 2.34 percent to Rs 687.95. The stock is up for the fifth straight day - its longest winning streak since December 2019 and also the top performer on the Nifty 50 index.

Indian equity markets opened lower due to rising tensions between U.S. and China along with India adding the highest number of Covid-19 cases in a single day.

Most of the Asian markets are trading with losses while futures on the Dow Jones are trading lower by 140 points.

The S&P BSE Sensex opened 0.36 percent lower at 30,822 while the NSE Nifty 50 opened 0.42 percent lower at 9,067. Only 8 out of the 50 Nifty constituents opened with gains.

Banking stocks are underperforming among sectoral indices, with the Nifty Bank index opening 1 percent lower, as has the Nifty Metal index. Other indices have opened with a flat to negative bias.

Market breadth is equal at the start of trade with 630 stocks on the NSE opening with gains while 649 trade with losses.