Buy Cummins India, target price Rs 1191: HDFC Securities

HDFC Securities has buy call on Cummins India with a target price of Rs 1191.The current market price of Cummins India is Rs 903.85.

Time period given by analyst is one year when Cummins India Ltd. price can reach defined target.

Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 24985.42 Crore) operating in Engineering sector.


Cummins India Ltd. key Products/Revenue Segments include Engines, Sale of services, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1249.82 Crore, down -4.94 % from last quarter Total Income of Rs 1314.78 Crore and up 108.47 % from last year same quarter Total Income of Rs 599.53 Crore. Company reported net profit after tax of Rs 235.24 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51 per cent stake in the company as of Dec 30, 2020, while FIIs held 8.95 per cent, DIIs 27 .50 per cent and public and others 12.53 per cent.