Buy Cummins India, target price Rs 1320: Yes Securities

Yes Securities has buy call on Cummins India with a target price of Rs 1320. The current market price of Cummins India is Rs 1131.3. Time period given by analyst is Intra Day 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 31330.53 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 31-03-2022, the company reported a Consolidated Total Income of Rs 1569.36 Crore, down -13.04 % from last quarter Total Income of Rs 1804.69 Crore and up 19.36 % from last year same quarter Total Income of Rs 1314.78 Crore. Company reported net profit after tax of Rs 180.12 Crore in latest quarter.


Investment Rationale
Formed low pole pattern; bullish turtle breakout on P&F chart. Follow-through move expected to continue

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 10.52 per cent, DIIs 25.15 per cent.