Cummins to touch Rs 550 in short term: Shastri

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Cummins to touch Rs 550 in short term: Shastri

VVLN Shastri, Head-Research at Firstcall India feel that Cummins has potential to touch atleast Rs 550 in the short term.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by VVLN Shastri See what other Experts & Brokerages are saying about Cummins See messages about Cummins Cummins BSE | NSE 10/02/12 Are Mutual Funds betting on Cummins?

VVLN Shastri, Head-Research at Firstcall India feel that Cummins has potential to touch atleast Rs 550 in the short term.

Shastri told CNBC-TV18, "I have a short term target of Rs 550 on Cummins given the current market price of Rs 475. It's expanding a manufacturing base and it's going to get into a diversify product range anywhere between 2.5 KvA to 12.5 KvA kind of capacities targeting the smaller niche market segments. The strategies going forward will be basically low cost and high volume."

He added, "Focus on CNG machines is also adding to the topline and bottomline because for DTC (Delhi Transportation Company), for all their Tata buses, Cummins is the sole supplier, which is again a positive point for this company. I feel it has potential to touch atleast Rs 550 in the short term."