Sharekhan has given Buy recommendation for Honeywell Automation India with a target price of Rs. 48,600 in its research report issued on Feb 18, 2022

Sharekhan’s research report on Honeywell Automation India

Honeywell Automation India Limited (Honeywell) reported slightly better-than-expected revenues although OPM remained under pressure due to weak gross margins for Q3FY2022. Despite stressed OPM for the past two quarters, the company is expected to benefit from investments in oil and gas, smart cities, airports, and building solutions segments going ahead. The company continues to generate strong cash flows and maintains a robust balance sheet.

Outlook

We retain a Buy rating on the stock with a revised PT of Rs. 48,600, factoring downward revision in estimates.

More Info

At 16:00 hrs Honeywell Automation was quoting at Rs 40,651.95, up Rs 9.55, or 0.02 percent.

It has touched an intraday high of Rs 41,294.85 and an intraday low of Rs 39,762.00.

It was trading with volumes of 235 shares, compared to its thirty day average of 239 shares, a decrease of -1.67 percent.

In the previous trading session, the share closed up 0.18 percent or Rs 74.20 at Rs 40,642.40.

The share touched its 52-week high Rs 49,805.00 and 52-week low Rs 38,146.90 on 15 March, 2021 and 23 August, 2021, respectively.

Currently, it is trading 18.38 percent below its 52-week high and 6.57 percent above its 52-week low.

Market capitalisation stands at Rs 35,942.52 crore.

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