The shares of Cummins India jumped nearly 3 percent on November 20 after the brokerage firm Citi issues a positive note for the company.
The stock rose to Rs 4,379.90 apiece on Thursday. Its market capitalisation currently stands at Rs 1,21,239 crore, according to data on NSE.
Here's what Citi said:
Citi in its brokerage note said that the company saw steady demand from real estate, construction and infrastructure. It added that the data centre demand remained steady from colocation players, although hyperscaler demand may be uneven. Notably, Cummins is a major supplier of backup power solutions, diesel and gas generators, which are key for datacenters
Citi sees the industrial weakness in the July-September quarter of FY26 as transitory, with potential on railways, defence and marine. It noted that the company is expanding its distribution reach.
The brokerage held a target price of Rs 4,875 apiece for the stock. This implies an upside potential of more than 14 percent from the stock’s previous closing price.
Cummins India share price:
Cummins India shares gained more than 1 percent in the past five days, and over 9 percent in the past one month. The stock surged nearly 49 percent in the past six months, and is up nearly 36 percent in 2025 so far.
Its P/E ratio currently stands at around 63.
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