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    Buy Cummins India, target price Rs 1320: Edelweiss

    Synopsis

    Cummins India Ltd. key Products/Revenue Segments include Engines, Sale of services, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.

    Buy Cummins India, target price Rs 1135: IIFL
    Promoters held 51.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.35 per cent, DIIs 25.04 per cent.
    Edelweiss has buy call on Cummins India with a target price of Rs 1320. The current market price of Cummins India Ltd. is Rs 1238.1.

    Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 34320.13 Crore) operating in Engineering sector.

    Cummins India Ltd. key Products/Revenue Segments include Engines, Sale of services, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1762.79 Crore, up 12.33 % from last quarter Total Income of Rs 1569.36 Crore and up 41.04 % from last year same quarter Total Income of Rs 1249.82 Crore. Company reported net profit after tax of Rs 166.20 Crore in latest quarter.

    Investment rationale
    Stock has 10-15% potential upside move to unfold in coming times.

    Promoter/FII Holdings
    Promoters held 51.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.35 per cent, DIIs 25.04 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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