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.
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.
The govt is increasing the duty to 15 per cent from the existing 10 per cent.
Investment advisor S P Tulsian and Shahina Mukadam (of IDBI Capital Market) pick out the winners and losers, based on Q1 results of companies.
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.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
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
India is the world's second-biggest sugar producer after Brazil and has been looking to offload a surplus in an already well-supplied world market.
Nifty ends above 8,600; Tata Motors, RIL top leaders
What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.
While some companies used that to become world leaders, others squandered it by over-borrowing.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
Markets climb higher tracking global cues.
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
Sensex ended strong, Tata Steel, HUL climb higher.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
Five of the 12 BSE sectoral indices ended at 52-week highs; the oil and gas index zoomed by nearly 5%.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
BSE Auto was the top sectoral loser with a 4.6% fall followed by realty sector down 3.7% and consumer durables 3.6% post disappointing IIP numbers
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
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
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on a weekly basis.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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