In his new role, Narain will be based in Mumbai and will also be responsible for Bayer's Global Smallholder Farming initiative.

Prime Minister Narendra Modi may have shown commitment to quickly conclude the discussion around Regional Comprehensive Economic Partnership, or RCEP, but this partnership agreement can derail his yet to take off Make in India programme.

Overall exports in September contracted by 2.15 per cent to $27.95 billion primarily due to high base effect last year, but healthy order books indicate better export growth in coming months.

At 12:31 pm, the stock was trading 2.53% or 20 points lower at Rs 759.95. The buyback price cannot exceed Rs 1,000 per equity share or 28% above the closing price of the stock in yesterday's trade.