Cummins India share price today, Cummins India share price target: Shares of Cummins India were in focus on Friday, May 31 after global brokerages revised their target prices on Pune-headquartered power solutions provider stock after the firm released its March quarter results.

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Jefferies has maintained an underperform rating on Cummins India. The brokerage has raised the target to Rs 2,190 apiece from Rs 1,765 apiece earlier. Goldman Sachs has retained a neutral call with a raised target of Rs 1,940 apiece from Rs 1,737 apiece earlier.

Nomura too has continued with a neutral rating on the counter. The brokerage has increased the target to Rs 3,470 apiecefrom Rs 3,040 apiece. The global brokerage is cautiously optimistic about margin sustainability. In its note, the brokerage highlighted the following key points: 

  • Raise FY25F/FY26F EPS by 2 per cent/4 per cent
  • Domestic demand is intact, while exports are likely to bottom out by 1QFY25
  • High-margin segments growing at a faster pace; RM volatility is key monitorable

Citi has maintained a buy call on the counter. The brokerage has revised the target to Rs 4,384 apiece from Rs 3,519 apiece. 

Cummins India Q4 results 2024: How did the firm fare in March quarter?

Cummins India posted a 54 per cent rise in its consolidated profit after tax to Rs 538.86 crore during the March quarter, on account of higher income on Wednesday. 

The company's total income rose to Rs 2,418.92 crore from Rs 2,021.30 crore in the January-March quarter of the 2022-23 fiscal. Its expenses were at Rs 1,829.19 crore as against Rs 1,648.01 crore in the same quarter a year ago. Read more on Cummins India Q4 results

Cummins India dividend

Cummins India has approved a final dividend of Rs 20 per equity share having a face value of Rs 2 each for the financial year 2023-24 in addition to the interim dividend of Rs 18 per share declared on February 7, 2024.

Cummins India dividend payment date

The said final dividend, if approved will be paid on or around August 30, 2024.

Cummins India share price today NSE

Continuing the two-day falling trend, Cummins India shares on Friday, May 31 closed at Rs 3,543.6, down 1.48 per cent on NSE. 

What does Cummins India do?

Headquartered in Pune, Cummins India is a power solutions providers in the country involved in the power generation, aftermarket, and export businesses.

(With PTI inputs)

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