Shares of Honeywell Automation India have gained momentum on buzz that Honeywell Asia Pacific, the parent company, is planning to delist the company’s shares from the Indian stock exchanges. Further, a leading foreign bank has already been given the mandate to run the process of delisting. The delisting via reverse book building process is likely to be by FY13-end.
Honeywell Automation India is currently trading at Rs 3281.00, up by 422.65 points or 14.79% from its previous closing of Rs 2858.35 on the BSE.
The scrip opened at Rs 2900.00 and has touched a new high of Rs 3391.80 and low of Rs 2880.00 So far 109549 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 3391.80 on 19-Nov-2012 and a 52 week low of Rs 1620.00 on 15-Dec-2011.
Last one week high and low of the scrip stood at Rs 3391.80 and Rs 2652.25 respectively. The current market cap of the company is Rs 2820.45 crore.
The promoters holding in the company stood at 81.24% while Institutions and Non-Institutions held 5.49% and 13.27% respectively.