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Cummins India: Growth delayed, but valuations turn attractive

Cummins is making efforts to piggyback on sectors that are relatively insulated from the stress in the industry such as railways, highway constructions and oil & gas

October 07, 2020 / 08:09 PM IST
Cummins India: Growth delayed, but valuations turn attractive

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Partial recovery in the domestic market to support growth - Growth in railways, construction and few other sectors to compensate this year - Focusing on cost optimisation, conservation of cash and working capital - Valuations look attractive, offering 4 percent dividend yield The June-quarter financial performance of Cummins India (CMP: Rs 452, MCap: Rs 12,521 crore)  was one of the worst in its history, and so the hit to the share price wasn’t unexpected. The stock has been hammered again in the...

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