Pharma major Merck has informed the BSE that Dr Claus-Dieter Boedecker has submitted a letter to the Board resigning from the office of Director and Managing Director in order to relocate himself to Germany. He has requested the Board to relieve him of his responsibilities by January 31, 2015. Following this, the nomination and remuneration committee on Thursday recommended to the board the appointment of Anand Nambiar as the new Managing Director, subject to completion of various formalities. The stock of Merck jumped 2.95 per cent at ₹805 on the NSE.

Future Consumer Enterprise has informed the exchanges that the nomination and remuneration/ compensation committee of the Board of Directors has approved cancellation of 3.50 lakh options granted to an employee who ceased to be in employment of the company. The company, however, did not divulge any other details. Shares of Future Consumer closed at ₹10.25, up 2.50 per cent on the NSE.

Petron Engineering Construction has received letters of Intent from NCC Ltd (Hyderabad) and Shree Cement (Bewar, Rajasthan) for orders worth ₹24 crore. For NCC, the company has to handle additional services of erection, testing and assistance towards commissioning, trial operation and handing over of critical piping for its power plant at Nellore. For Shree Cement, Petron will undertake civil construction work of the packing plant extension and fly ash unloading system with handling conveyor belt at the Bangur cement plant, Aurangabad. Shares of Petron Engg edged up 0.71 per cent at ₹149.05 on the BSE.

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