Shares of Cairn India and Vedanta will remain in focus following receipt of approval from both the exchanges - BSE and NSE - for the proposed merger of its oil and hydrocarbon arm Cairn India with itself.

In June, Anil Agarwal-controlled Vedanta had announced that it will absorb Cairn India in a $2.3-billion all-share deal to create the country’s largest diversified natural resources firm.

Now the role of shareholders LIC and Cairn Plc will be crucial.