Mid Cap Stock Gains 8.36% As Q3 Net Soars 26%, To Pay Rs 18/Share Dividend

Cummins India shares witnessed rally of 8.36% till 2:05 pm on Thursday after the company reported a jump of 26.32% YoY in its standalone net profit to Rs 454.92 crore for the quarter ended December 2023. The company had declared its net profit at Rs 360.14 crore in the corresponding quarter of last year, as per its BSE filing. Cummins India shares also hit fresh 52-week high as well in trade today. The company also awarded an interim dividend of Rs 18/share to its shareholders and fixed February 21, 2024 as record date. Check details below:

Cummins India Stock Performance & Return: The 52-week high price of Cummins India shares on BSE is Rs 2642.45 per share and 52-week low price is Rs 1445.00 per share, respectively. Its market capitalisation is Rs 71,814.20 crore. Cummins India shares jumped 14.40% in last 1-week span, gained 30% in last 1-month, rallied 47% in last 3-months, and offered return of 75% in last 1-year. In last 2-years, Cummins India stock on BSE surged 185% and offered return of 226% in last 3-years.

Cummins India Announces Interim Dividend: As per the BSE filing of the company dated February 7, 2024, "We further wish to inform the exchange that the Board of Directors have approved and declared an Interim Dividend of Rs 18/- per equity share i.e. at the rate of 900% on 277,200,000 equity shares (Face Value Rs. 2/- each) for the Financial Year 2023-24. The Interim Dividend will be paid on or before March 06, 2024."

Cummins India Q3 Results: Cummins, from the industry of Compressors, Pumps & Diesel Engines, today declared its standalone net profit at Rs 454.92 crore, up 26.32% YoY from Rs 360.14 crore declared in the corresponding quarter of last year, pushed by strong demand in domestic and global markets. The company's EPS came at Rs 16.41 for December 2023 quarter as against Rs 12.99 in the corresponding quarter of last year.

Total expenses of Cummins declared at Rs 2044.32 crore for the December 2023 quarter as against Rs 1805.33 crore in the similar quarter of last year. Total income has been declared at Rs 2647.67 crore for the quarter under review as against Rs 2284.30 crore for the similar quarter of last year.

Cummins India About: Formed in 1962, the largest entity of Cummins in India, Cummins India Limited is the country's leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution, according to its official website.

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