Honeywell shares rise 16% on buyback news

Last Updated: Mon, Nov 19, 2012 19:32 hrs

Shares of Honeywell Automation India jumped 16 per cent to a new high of Rs 3,315.70 on Monday, on speculation that the company’s foreign parent plans a buyback offer to delist it. Honeywell Automation India clarified to the BSE, "We do not comment on market speculation. The news item is clearly speculative and incorrect in nature and they have not accounted for the official statement from Honeywell."

As on September 30, Honeywell Asia Pacific held 81.5% stake in the company

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