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Honeywell Automation Shares: Shares of engineering firm Honeywell Automation are in focus during trading today on Wednesday. There is a huge fall in the shares of the company today. Honeywell Automation shares on BSE are up 9% i.e. Rs. Down from Rs 4,358. Was trading at 44630.30. After the market closed, the share closed at Rs 45201. That means the share fell by Rs 3766 in one day. Its previous closing price is Rs 48989.05. The reason for this big fall in the company's shares is the weak results of the September quarter. Actually, Honeywell Automation has registered a decline in profits in the second quarter of the current financial year.
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Amid weak demand, the company's profit fell 5.6 percent to Rs 115 crore ($13.7 million) in the second quarter, from Rs 122 crore in the same quarter last year. Let us tell you that Honeywell Automation India specializes in designing products aimed at reducing emissions and energy transformation as well as providing building automation solutions to industrial customers. A recent survey showed a slowing growth trend in India's manufacturing sector during August and September. Despite this, the company managed to maintain its EBITDA margin, which came in at 12.6 percent in the second quarter, slightly higher than 12.5 percent in the year-ago quarter. Additionally, Honeywell, the parent company of Honeywell Automation India, has also forecast annual sales below Wall Street expectations.
In the last three months the company in shares There has been a decline of 16 percent, including today's decline. The company's shares have risen 20 percent this year and 25 percent in a year. Its 52 week high price is Rs 59700 and 52 week low is Rs 34990. Its market cap is Rs 39,998.74 crore. Importantly, Honeywell Automation is another expensive stock in the country.