Sharekhan has given Buy recommendation for Cummins India with a target price of Rs. 765 in its research report issued on Jan 29, 2021
Sharekhan’s research report on Cummins India
The company reported yet another strong quarterly performance, led by better-than-expected OPM, driven by largely sustainable cost-reduction measures. The company is witnessing strong uptick in key segments such as power generation, construction, and mining, which are expected to do well going ahead. Management remains optimistic but has refrained from giving guidance for FY2021. The company continues to carry out new product initiatives, cost rationalising, and conserving cash. The company is expected to maintain its technologically driven market leadership across all business segments
We retain Buy on Cummins India Limited (Cummins) with a revised PT of Rs. 765, as we see further room for upside considering strong earnings growth potential led by domestic economic revival.
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