Buy Cummins India: target of Rs 1252: Sharekhan
Sharekhan is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 1252 in its research report dated November 18, 2021.
November 22, 2021 / 01:35 PM IST
Sharekhan's research report on Cummins India
Cummins reported strong outperformance in revenues and operating margins for Q2FY2022 led by sharp rise in domestic revenues and despite pressure on gross margins. Its price hikes are lagging by quarter and a half. On the ESG front, the company is actively working with all stakeholders providing strategies for green energy transition. Global parent’s exposure in alternate technologies would aid the company as and when transition happens. Export markets pick up led by Asia Pacific region followed by Africa, Middle East and Latin America.
We retain Buy on Cummins India (Cummins) with an unchanged PT of Rs. 1,252, given its strong performance during the quarter and strong growth outlook.
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.