Honeywell is doing very well at the markets

Shares of Honeywell Automation, a maker of air conditioning equipment, hit 3-month highs after first quarter earnings surged.

Honeywell Automation reported its first quarter PAT rose to 37 crore rupees compared with 29 crore rupees in the same quarter a year ago. Sales for the April-June quarter leapt to 513 crore rupees versus 447 crore rupees in the year ago period.

Honeywell surged 6.6 percent, or 535 rupees, to 8,600 rupees on the National Stock Exchange where 14,320 shares were traded compared with the 5-day trading average of 1,320.

Honeywell's market capitalisation has surged 16 percent this year to 7,130 crore rupees.

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