Buy Cummins India: target of Rs 917: Sharekhan

Sharekhan is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 917 in its research report dated February 22, 2021.

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Sharekhan’s research report on Cummins India

Domestic sales on a gradual recovery path as seen from macro indicators, signaling strong recovery in business activities. Exports to benefit from improved demand from data centre, 5G rollout, and China+1 strategy. Well placed to take advantage given its preparedness on the technology front and market leadership position along with newer technologies such as CPCB 1V norms can lead to further market share gains.

Outlook

We retain Buy on Cummins India Limited (Cummins) with a revised PT of Rs. 917, considering strong earnings growth potential, led by domestic economic revival.

For all recommendations report, click here

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