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When it was announced, the split was a stellar idea. It still is for the most part, but the fundamentals have changed. What are investors getting into?

Record earnings and a cleaner balance sheet offer relief, but muted production growth, delayed projects and a heavy reliance on favourable commodity cycles could weigh on the newly demerged entities of Anil Agarwal’s mining-to-metals group.
The automaker that virtually created India’s electric car market is forced to offer record discounts, even as rivals surge and competition is set to get fiercer.
A revival in small-car sales has restored the automaker’s advantage, but tougher fuel-efficiency norms threaten to turn its greatest strength into a liability.