Buy Cummins India, target price Rs 4300: Motilal Oswal

Motilal Oswal has buy call on Cummins India Ltd. with a target price of Rs 4300. The current market price of Cummins India is Rs 3715.4.

Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 103909.81 Crore) operating in Engineering sector.

Cummins India Ltd. key Products/Revenue Segments include Engines, Sale of services, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 2419.29 Crore, up .02 % from last quarter Total Income of Rs 2418.92 Crore and up 4.86 % from last year same quarter Total Income of Rs 2307.23 Crore. Company reported net profit after tax of Rs 395.27 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 30-Jun-2024, while FIIs owned 17.95 per cent, DIIs 22.19 per cent.