Buy Cummins India: Rajesh Jain

Buy Cummins India, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "Cummins India is a strong one product capital goods power plant equipment company. It continues to export its generators in large numbers to its parent and others and that will ensure that the impact of higher interest rate is not felt by the company."

He further added, "It is investing significantly in capacity expansion and has reasonable pricing power. I expect the stock to gain from selling in other capital goods stocks and would buy for an intraday target of Rs 720.