Murkumbi will continue to retain his post till the stipulated notice period of 90 days or completion of open offer by Wilmar, whichever is later.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
A number of sugar companies in India are awaiting government approval for loans from the Sugar Development Fund to set up co-generation power units or ethanol plants.
Investment advisor S P Tulsian and Shahina Mukadam (of IDBI Capital Market) pick out the winners and losers, based on Q1 results of companies.
The govt is increasing the duty to 15 per cent from the existing 10 per cent.
What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.
India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
While some companies used that to become world leaders, others squandered it by over-borrowing.
The benchmark M-30 variety of sugar has declined by over 3 per cent in November to trade now at Rs 3,694 per quintal
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on a weekly basis.
Experts say investors should be careful, as even a 50-100 bps cut in rates will not help such companies if their business is not doing well. Check what is the problem and consider
Five of the 12 BSE sectoral indices ended at 52-week highs; the oil and gas index zoomed by nearly 5%.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
