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
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.
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
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.