Honeywell Automation India sinks after Q2 profit falls

Honeywell Automation India

30/10/2024 04:25

** Shares of Honeywell Automation India  HONE.NS  fall as
much as 9.1% to 44,500 rupees
    ** The engineering firm reported a 5.6% y/y fall in Q2
profit to 1.15 bln rupees, hurt by slowing demand  urn:newsml:reuters.com:*:nL4N3M2045
    ** Stock on track to fall for a fourth straight month
    ** More than 17,000 shares traded, as of 9:50 a.m. IST, 3.8x
their 30-day moving avg
    ** Mean rating of 7 brokerages rating the stock is "hold";
their median PT is 50,225 rupees - LSEG data
    ** HONE stock down 7.6%, cutting YTD gains to 22.8% so far

    

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))