Aditya Birla Fashion and Retail Limited (NSEI:ABFRL) on April 2, 2024 hit the 10% upper circuit of INR 232.85 on BSE after announcing plans to evaluate the vertical demerger of Madura Fashion & Lifestyle business from ABFRL into a separately-listed company. The proposed demerger will enable the creation of two separately listed companies as independent growth engines with distinct capital structures and parallel value-creation opportunities.