Shares of Cummins India Limited shares slipped 6 percent to Rs 3,565 in morning trade on October 11 after Goldman Sachs downgraded the counter to 'sell' and trimmed the target price citing numerous concerns for the company.With a price target of Rs 2,900, the international brokerage implies a downside potential of 23 percent from the last closing price of Rs 3,783 on the NSE. Cummins India shares ...

Operation unwindMarket operators are struggling to maintain momentum in Cummins India. The long-term story may be promising but domestic fund managers are balking at pricey valuations. While the stock has been on a tear since March, domestic funds have either stood pat or trimmed their positions in March and April. The chatter is that more funds have sold shares in May as well. That is making it d...

Hawkish commentary by the US Fed chairman and concern of troubles at US Silicon Valley-based lender SVB Financial Group pulled down Indian bourses nearly 700 points to close Sensex below at 60k level. Broad base selling was seen in the market in line with weak trends globally. Heavy selling was seen in financial, banking, IT, realty and capital goods shares triggered by weak Asian, US and European...

Cummins Inc on Tuesday announced an open offer to acquire a 26% stake in auto component company Automotive Axles, which is a joint venture of Kalyani Group and US-based Meritor, with each entity owning 35.52% stake in the company. Cummins said it would acquire up to 39.29 lakh fully paid-up equity shares with a face value of `10. The open offer price has been fixed at `1,504.43 per share. This w...

Cummins India Ltd is poised to enjoy a slew of benefits from the rising pace of decarbonization. According to analysts at Kotak Institutional Equities, the shift towards stringent emission standards will add to the growth impetus from infrastructure asset creation for Cummins India."Decarbonization has direct and indirect benefits for Cummins’ product and services businesses. It will enable Cumm...