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Honeywell Automation tumbles after poor Q1 results

Capital Market/ 15:17 , Apr 20, 2012

Honeywell Automation India tumbled 7.94% to Rs 3,004.15 at 15:09 IST on BSE after net profit fell 47.94% to Rs 16.56 crore on 17.39% growth in net sales to Rs 412.62 crore in Q1 March 2012 over Q1 March 2011.

The company announced the results during trading hours today, 20 April 2012.

Meanwhile, the BSE Sensex was down 122.31 points or 0.7% to 17,381.40.

On BSE, 27,768 shares were traded in the counter compared with the average daily volume of 2,554 shares in the past one quarter.

The stock hit a high of Rs 3,350 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,980 so far during the day. The stock had hit a 52-week low of Rs 1,620 on 15 December 2011.

The stock had outperformed the market over the past one month till 19 April 2012, rising 16.48% compared with the Sensex's 1.33% gain. The scrip had also outperformed the market in past one quarter, surging 62.51% as against Sensex's 5.17% gain.

The company has an equity capital of Rs 8.84 crore. Face value per share is Rs 10.

Honeywell Automation India supplies industrial automation and control solutions to the petrochemicals, refining, oil and gas, mining, metal and power industries.

 



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