Buy Cummins India, target price Rs 940: Motilal Oswal

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Buy Cummins India, target price Rs 940:  Motilal Oswal


Motilal Oswal has buy call on Cummins India with a target price of Rs 940. The current market price of is Rs 896.15.

Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 24849.59 Crore) operating in Engineering sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1491.57 Crore, up 21.47 % from last quarter Total Income of Rs 1227.98 Crore and down -1.82 % from last year same quarter Total Income of Rs 1519.27 Crore. Company reported net profit after tax of Rs 196.06 Crore in latest quarter.

Investment Rationale
Surpassed its previous hurdle and breakout on daily frame with strong setup on monthly scale


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.





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