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Monday, December 06, 2010

Honda to exit Hero Honda

Japanese auto giant Honda has reached an agreement to dissolve their 26-year old joint venture, Hero Honda, with the Hero Group by selling its entire stake in the India's largest two-wheeler maker.

Honda is expected to sell its entire 26 per cent stake in Hero Honda to its partner Munjals-promoted Hero Group and would earn USD 1.2 billion from the sale, Kyodo reported quoting Japanese Nikkei business daily.

"Honda and the Hero Group have reached the basic agreement this week to dissolve the partnership," Nikkei said, adding that the two companies will seek final approval from their respective board of directors later this month for the break-up. The parting of ways comes 26 years after the joint venture was set up in 1984.

IT industry face tricky scenario post recession

In the post recession strategic times, the Information Technology (IT) industry is facing a tricky scenario in which quality of talent within companies has increased, while quality of skills available in the job market has dwindled.

This perception surfaced at a national level Human Resources (HR) meet in Pune last week, where top representatives of the industry deliberated on the theme 'Opportunities & Challenges in IT Industry-Post Recession'.

The focus of the meet was to understand the changing needs of the industry and its expectations from the educational institutions, which the participants felt would be called upon to bridge the gap between the required talent and available manpower for the IT sector, which underwent difficult phase in the last one year.
"Last one year has been a year of acid test for industry in general and IT sector in specific, where India has been leading.

IIFCL plans tax-free retail bond in Q4

The state-run core sector lender India Infrastructure Finance Company (IIFCL) said that it will come out with an Rs 1,200-crore retail infra bond issue from January through March.

"We will launch Rs 1,200-crore tax-free infrastructure bonds this fiscal. It will hit the markets in three tranches of Rs 400 crore each," IIFCL Chairman and Managing Director SK Goel told newsmen on the sidelines of the last day of the annual bankers' summit in Mumbai. These three-legged bond issue will hit the markets in January, February and March, he said.

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