Buy Large Cap Stock With Strong Financials, TP Rs 2250: Motilal Oswal

Motilal Oswal has recommended investors to buy large cap stock from the engineering sector Cummins India Ltd with target price of Rs 2250 per share. Current market price of Cummins India share BSE is Rs 2013.00 per share with intraday gain of 3.89%. If you buy Cummins India share at last trading price of Rs 2013.00 apiece, you can fetch likely upside of 11.77%. Check details below:

Cummins India Stock Performance & Return: The stock's 52-week high price is Rs 2024.00 per share and 52-week low price is Rs 1353.25 per share, respectively. The company has a market capitalisation of Rs 55,800.36 crore. Cummins India shares gained 17% in last 3-months, soared 45% year-to-date, offered return of 39% in last 1-year, and surged 118% in last 2-years. In last 3-years, Cummins India shares jumped 250% and rose 154% in last 5-years.

Cummins India Financials: The leading diesel and natural gas engine maker declared a surge of 23% in its Q2 consolidated profit after tax on November 7 on the back of strong demand in domestic and global markets. It declared its consolidated profit after tax (PAT) at Rs 329.09 crore for the quarter ended September 30, 2023 as against Rs 267.31 crore declared in the corresponding quarter of last year. The company stated its income from operations declined 1.8% to Rs 1,893 crore. The quarter ended September 2023 also marked the third consecutive quarter when the company secured the advantage of the uptick in demand created by growth in private and public capital expenditure along with an easing of execution issues to declare strong revenues.

"Cummins India continues to execute its profitable growth strategy and is well-positioned to meet the demands of its end markets," Ashwath Ram, Managing Director, Cummins India said in a press release.

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.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.