Honeywell Automation India rises most since March as Q1 rev beats estimates

Honeywell Automation India

07/08/2020 08:29

** Shares of electronic systems maker  HONE.NS  jump as much
as 10.9% to 30,300 rupees, their best day in over 4 months
    ** Shares mark highest level since July 2
    ** Antique Stock Broking says co's Q1 rev saw "sharp
outperformance", helped by its exports and automation business
    ** HONE June-qtr rev from ops falls 14.1% to 7.36 bln rupees
($98.19 mln) from a year earlier, but 31% more than brokerage
est  urn:newsml:reuters.com:*:nFWN2F80VN
    ** Profit falls 14% to 980.8 mln rupees from a year ago
    ** "HAIL's margin resilience in such turbulent times has
been encouraging and presents a cheerful picture of the future
as the ongoing disruption subsides" - Antique Stock Broking
    ** Shares down 0.01% so far this year, as of last close

($1 = 74.9581 Indian rupees)

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))