Over the long term, Li-ion batteries segment could see heightened competition which may put to test the market share enjoyed by both these leaders so far
The Ministry of Heavy Industries has already reached out to global original equipment manufacturers (OEMs) through the Society of Indian Automobile Manufacturers (SIAM) to gauge investor interest.
The January-March period marks the fifth quarter in a row when Cummins India has posted strong revenue on the back of demand created by growth in private and public capital expenditure
The October-December period is the fourth quarter in a row when Cummins India has been able to take advantage of the uptick in demand created by growth in private and public capital expenditure along with an easing of execution issues to post strong revenue
The company is hoping to maintain its 30 percent market share this year and grow to about 35 percent going forward
This is the third quarter in a row when Cummins India was been able to take advantage of the uptick in demand created by growth in private and public capital expenditure along with an easing of execution issues to post strong revenues.