Cummins India share price: Sell Cummins India, target price Rs 945: Kotak Securities
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Kotak Securities has sell call on Cummins India Ltd. with a target price of Rs 945. The current market price of is Rs 975.8. Time period given by analyst is Intra Day when . price can reach defined target.
Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 27040.86 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 31-03-2022, the company reported a Consolidated Total Income of Rs 1569.36 Crore, down -13.04 % from last quarter Total Income of Rs 1804.69 Crore and up 19.36 % from last year same quarter Total Income of Rs 1314.78 Crore. Company reported net profit after tax of Rs 180.12 Crore in latest quarter.
Investment Rationale
Closed below its trend line support levels on the daily chart, which indicates a fresh downside
Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 10.52 per cent, DIIs 25.15 per cent.
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