India's RBI hikes foreign fund limit in Hero Honda

Newswire

BOMBAY, Aug 28 (Reuters) - India's central bank said on Wednesday it had increased the foreign fund holding limit in Hero Honda Motors Ltd , India's largest motorcycle maker, to 40 percent of its equity. Earlier, foreign funds were allowed to hold up to 24 percent in Hero Honda, and had nearly reached this limit. Their holding was 23.23 percent as on June 30. Ahead of the announcement, the company's shares closed up 1.74 percent at 274.40 rupees, while the Bombay benchmark ended flat.

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