Cummins India shares slip as engineering firm trades ex-dividend on D-Street

Cummins India share price BSE, NSE today: Cummins India shares traded declined on Tuesday as the stock of the engineering company went ex-dividend on Dalal Street. Cummins shares declined as much as two per cent to Rs 1,582 apiece on BSE, continuing to fall for the third back-to-back session.

Cummins India dividend: How much dividend is the engineering company paying its shareholders?

On February 8, the company — which manufactures compressors, pumps and diesel engines — announced an interim dividend of Rs 12 per share of a face value of Rs 2.

What is ex-dividend date?

An ex-dividend date determines the day when the price of a stock gets adjusted for a dividend payout. 

What is Cummins India dividend payout date?

The board of Cummins India had declared February 21 as the record date as the payout date for the interim dividend.

Watch: Stocks In News: MRF, Cummins India, Ujjivan Small Finance Among Other Scrips In Focus Today

Cummins India dividend payment date

Cummins India has said that the dividend will be dispatched by March 6, 2023, and paid on March 8.

Watch: News Par Views: Mr. Ashwath Ram, MD & CEO, Cummins India In Talk With Anil Singhvi On Q3 Results 

What brokerages recommend on Cummins India shares

YES Securities has a 'buy' call on Cummins India with a target price of Rs 1,953 per share, which implies potential upside of 21 per cent.

“We expect the company to report revenue/profit CAGR of 19/34 per cent over FY22‐25E, respectively, factoring in the change in product mix, price hikes, margin expansion and recovery in export markets,” said Harsh Tewaney, Analyst, YES Securities.

The stock is trading at 41.9 times its earnings estimates for the year ending March 2023, the brokerage highlighted. 

Cummins India share price history

Cummins India shares have reported growth of over 65 per cent in the last one year as compared to a nearly six per cent rise in the Sensex index.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.