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.
The joint entity will have a market share of nine per cent in India. Analysts tracking the company said one of the key outcomes of the merger would be to create a single brand entity of Sun and the Ranbaxy brand would eventually dissolve.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
For the June quarter, sales for DLF were down 25 per cent at Rs 1,725 crore (Rs 17.25 billion) over the same quarter a year earlier.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
The Competition Commission of India has slapped Coal India Ltd with a penalty of Rs 1,773 crore (Rs 17.73 billion) -- the biggest by the watchdog on a company -- over alleged abuse of its monopolistic position.
Against the backdrop of objections by some MPs, Civil Aviation Minister Ajit Singh on Tuesday strongly defended the Rs 2,058 crore (Rs 20.58 billion) Jet-Etihad deal, saying those opposing it were "long on politics and short on facts".
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
The aviation authority is concerned about financial health of Air India, Spicejet and Jet Airways.
Such allegations are unjustified, given that the CCI's remedies do not promote a free-for-all scheme.
An exchange which preaches others on governance must start practising it first, says Shyamal Majumdar.
Etihad earns about 23 per cent of its passenger revenue from code-share and equity partners, and this would increase after its tie-up with Jet.
Turns down firm's plea for stay on CCI order; final order pending
Havells will acquire the entire consumer business infrastructure, people and distribution network. Plus all intellectual property of the Lloyd brand, logo, trademark and attendant rights.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
The Sensex ended down 251 points at 27,351 and the Nifty shed 65 points to close at 8,228.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
DLF has launched a mega discount sale of its properties.
ndia has become the world's second largest market of asbestos as the government backed by powerful corporate lobby turns a blind eye to diseases related to the use of the hazardous chemical.
Sun-Ranbaxy are keen to complete the merger process.
New real estate portals like PropTiger and Commonfloor are also focusing on the secondary market in a big way.
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Real estate biggies expcet single window clearance for upcoming projects.
CCI investigation into predatory pricing likely
CCI has accused realty player DLF of preparing one-sided agreement with home buyers
Regulator believes Jet Airways deal triggers open offer
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
Experts say despite it being a global deal, the transaction will have to undergo CCI scrutiny because of the scale of operations.
Many likely to be in trouble if restive consumers also petition the courts.
Ratnakar Bank to absorb RBS' employees involved in three businesses
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
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