Buy Cummins India: target of Rs 1030: Sharekhan

Sharekhan is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 1030 in its research report dated March 09, 2021.

March 10, 2021 / 01:15 PM IST
 
 
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Sharekhan's research report on Cummins India


Domestic sales are recovering as visible in macro indicators, signaling a strong pick-up in business activities; exports would benefit from improved demand from data centres, 5G rollout and the China+1 strategy. Company is well-placed to take advantage given that it is technologically prepared and has market leadership position; CPCB-IV norms can lead to further market share gains. Led by AatmaNirbhar Bharat, localized procurement and a faster pick-up in manufacturing activity, the entire sector is getting rerated which augurs well for Cummins, which trades at a discount to its peak 5-year average multiple.


Outlook


We retain a Buy on Cummins India Limited (Cummins) with a revised PT of Rs. 1,030, considering strong earnings growth potential, led by a domestic economic revival.


For all recommendations report, click here

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first published: Mar 10, 2021 01:15 pm

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