Honda India Power surges 13%; stock hits over four-year high

The company remains confident of gasoline fueled engine and water pump business to perform well. It anticipates complete transition to gasoline from kerosene-powered products.

Shares of Honda India Power Products hit over four-year high of Rs 1,585.95, after rallying 13 per cent on the BSE in Tuesday’s intra-day trade on expectation of strong earnings. The stock of industrial equipments company traded at its highest level since February 2018. Earlier, it had hit a record high of Rs 1,750 on November 7, 2016.

In the past one month, the stock rallied 25 per cent after its fellow subsidiary Honda Cars India Ltd (HCIL) started production of the upcoming electric hybrid version of its popular sedan, 'City.' CLICK HERE In comparison, the S&P BSE Sensex