Honeywell Automation India Ltd (HONE.BO)
17 May 2013
|Market Cap (Mil.):||Rs22,484.44|
|Shares Outstanding (Mil.):||8.84|
Reuters Market Eye - Shares in Honeywell Automation India shares slump 19.5 percent after saying Honeywell Asia Pacific plans to cut its stake in the domestic unit.
* Shares in Honeywell Automation India shares slump 19.5 percent after saying Honeywell Asia Pacific plans to cut its stake in the domestic unit. * Honeywell Asia Pacific plans to sell shares in its Indian unit to meet market regulator requirements mandating listed companies must have at least 25 percent public shareholding by next year. * Honeywell Asia Pacific owns 81.24 percent stake in Honeywell Automation, and would thus need to cut its stake to 75 percent. * Traders had speculated Honeyw