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SPECIAL LEAD
HERO, HONDA PART WAYS AFTER 26 YEARS
Munjals promoted Hero Group said today it will buy the entire 26% stake of its Japanese partner Honda in the company for an undisclosed amount. No financial details were disclosed. Royalty to remain in line or even lower. The board has approved a Memorandum Of Understanding between Hero Honda and Honda. The two companies will sign a definitive agreement within the next few weeks. read more
LEAD STORIES
RBI KEEPS KEY RATES UNCHANGED; CUTS SLR TO 24%
The RBI left all key rates unchanged - repo at 6.25%, reverse repo at 5.25%, CRR at 6%. The statutory liquidity ratio has been cut from 25% to 24%.
RBI'S POLICY ACTION DRIVES SENSEX UP 217 PTS
Sensex surged 19,864.85 points on RBI's decision to refrain from hiking key policy rates. Nifty finished 56.45 points up at 5948.75.
WEN TALKS OF FRIENDSHIP, $100 BN TRADE WITH INDIA
Chinese Premier Wen Jiabao pressed on with a charm offensive in India, offering support for New Delhi's bid for a greater role in the UN.
TOP STORIES
•AP govt seeks bar on MFIs raising funds from mkts, PE
•Rajeev Chandrasekhar targets Ratan Tata again
•Food inflation rises to 9.46% from 8.60% WoW
•HC speaks in favour of Lavasa
•Jairam now targets Mundra Port, issues notice
•Supreme Court to oversee 2G scam probe by CBI
•SC adjourns Karnataka iron ore ban petition
•IDFC to sell 25% in MF arm to US asset manager
•RBI to buy Rs 12,000 cr bonds for next four weeks
•Strong corporate bond mkt to fund infra projs: Gokarn
•TCS scrip touches life-time high at Rs 1,140.40
•ONGC approves 1:1 bonus, 2:1 stock split
•EU, India resolve dispute over generic drugs
•17.45 mn new GSM subscribers added in Nov
•FDI in Oct dips 40% to $1.4 bn
•Tata Motors to hike passenger car prices by 1.5%
•Goldman Sachs executives to get $111 mn bonus
•KOGAS to buy Gladstone LNG stake for $15 bn
•Honda recalls 1.35 mn cars over headlight flaw
•WikiLeaks founder Assange granted bail
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