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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
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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

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first published: Nov 22, 2021 01:35 pm
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