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Buy Cummins India; target of Rs 1755: Sharekhan

Sharekhan is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 1755 in its research report dated December 09, 2022.

December 12, 2022 / 03:01 PM IST
 
 
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Sharekhan's research report on Cummins India

Cummins is well-poised for a formidable growth in both domestic and export markets through sustainable demand in traditional sectors and new offerings in alternate and green technologies. CPCB-IV plus norms from July 01, 2023 would bring structural transformation in the gensets industry through technological changes and price revision. Barring brief disruption post pre-buying in H1CY23, long-term implications are favorable for a leader like Cummins in terms of revenue and profitability. Cummins has a strong pedigree, industry-leading margins and we expect its earnings trajectory to sustain going forward. We expect revenue/PAT CAGR of ~18%/19% over FY22-25E.

Outlook

It has a healthy balance sheet with strong cash and investments of ~Rs. 2,000 crore. We reiterate Buy on the stock with a revised PT of Rs 1,755.

For all recommendations report, click here

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Cummins India - 12 -12-2022 - khan

Broker Research
first published: Dec 12, 2022 03:01 pm

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