Electrical Help: Swap 50A Range for separate Cooktop & insert Oven (30A each)
Actually with no structural changes it may be a redecorating project. In several states that I have lived many people doing cosmetic updates like your project do not know the proper terms.
With the wrong term they end up doing way more than what is required.
for example in my current state if the receptacle is not moved more than 6’ the original wiring is allowed (we are on the 17 code with state exceptions until April).
In this case if the wiring is properly sized a large junction box being tapped for both devices MAY be acceptable is the box accessible after the work is complete? it all goes back to the AHJ so the location would be needed to know for sure but when the home was built the tap that you want was acceptable see NEC 210.19.3  and for a picture see exhibit 210.24. Last if tapped from the junction box to the next device usually requires conduit.
I do agree with most of Retired master electricians answer but the jurisdiction here is a big deal and I would not be pulling a new feeder if I could be in compliance with my state requirements. If you happened to have 3 insulated conductors (unlikely but possible) pulling a single ground wire I would do to bring up to the current code.