Hero Honda shares slip on JV breakup report

Hero Honda shares slip on JV breakup report

Mumbai: Shares in Hero Honda Motors, India’s largest motorcycle manufacturer, fell nearly 5% early on Monday after the Nikkei daily reported Honda had agreed to exit its stake in the joint venture.

Honda and its Indian partner Hero Group will seek approval for the breakup from their respective boards of directors later this month, the newspaper said over the weekend.

At 9:21 am, Hero Honda shares had trimmed the fall to 2.9%.

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