Cummins India
Although the Pune-based company has fallen 5% in the last five days to ₹988, analysts are firm that the share price would cross ₹1,250 on solid outlook.
“The company is witnessing recovery in key segments such as power generation, construction, and mining, which are expected to do well going ahead. In exports, demand is expected to come back strongly, where North America, China, and India are expected to be the growth areas,” said analysts at ShareKhan.
The brokerage sees further room for upside considering strong growth potential in end-user industries, strong balance sheet, and steady cash flow generation as it retains ‘buy’ rating on the stock with target price of ₹1,252. Analysts at Yes Securities have also given a ‘buy’ rating on Cummins India with a target price of ₹1100.