Stock To Buy: Multibagger Engineering Co Set To Mull Dividend, TP 2250: Motilal Oswal

Board of Directors of mid cap company Cummins India Ltd will meet on February 7, 2024 to consider financial results for the quarter and nine months ended December 31, 2023 and declaration of interim dividend.

Last trading price of Cummins India Ltd share on BSE is Rs 2030.50 per share with intraday fall of 0.72%. Cummins India shares offered return of 40% in last 1-year and 108% return in last 2-years. Check details below:

Cummins India Ltd To Consider Financial Results, Interim Dividend: As per the regulatory filing of the company dated January 11, 2024, "a meeting of the Board of Directors of the Company will be held on Wednesday, February 07, 2024, inter-alia: -

• To consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2023.
• To consider declaration of Interim Dividend for the Financial Year 2023-24."

Motilal Oswal Assigns Buy Call: Leading brokerage house Motilal Osweal has suggested investors to buy Cummins India stock with target price of Rs 2250 per share.

Cummins India Stock Performance & Return: The stock's 52-week high price is Rs 2066.30 per share and 52-week low price is Rs 1356.05 per share, respectively. The company has a market capitalisation of Rs 56,285.46 crore. Cummins India shares surged 16% in last 3-months, gained 40% in last 1-year, soared 108% in last 2-years, and offered shareholders return of 225% in last 3-years. In last 5-years, Cummins India shares jumped 141% and rose 341% in last 10-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.

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