Joindre Capital Services is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 990 in its research report dated November 29, 2018.
Joindre Capital Services' research report on Cummins India
Cummins India Limited, 51% subsidiary of US based Cummins Inc limited, is India’s leading manufacturer of diesel and natural gas engines. One of the eight legal entities of the Cummins Group in India, Cummins India Limited comprises of three business units - Engine, Power Systems, and Distribution. CIL is a market leader in the all key product categories in India with exports (including exporting to Cummins group of companies globally) being a major part of Cummins India limited revenues, CIL has its plants located at Kothrud, PDC at Phaltan, Power Generation Exports plant (at Phaltan SEZ).
Hence we believe that the CIL stock should be purchased at the current price for a price target of around Rs 990 over the next 12 to 18 months.
For all recommendations report, click here
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