Rs 31/Share Dividend, 1:5 Split: Buy Diesel Engines Stock Ahead Of Dividend, Q4; TP Rs 3538

Brokerage firm Anand Rathi has assigned buy call to Cummins India share with target price of Rs 3538 per share. Last trading price of the technically moderately strong stock on BSE is Rs 3061.25 per share. The company has a market capitalisation of Rs 84,857.85 crore.

Cummins India share zoomed 57% year-to-date and soared 179% in last 2-years. The company will hold its meeting of board of directors on May 29, 2024 to consider financial results and dividend. Check details below:

Cummins India To Declare Financial Results, Dividend: As per the regulatory filing of Cummins India shares on BSE, "a meeting of the Board of Directors of the Company will be held on Wednesday, May 29, 2024, inter-alia:- (i) to consider, approve and take on record the audited standalone and consolidated financial results for the quarter and year ended March 31, 2024, and; (ii) to consider recommendation of Final Equity Dividend for the Financial Year 2023-24, if any, subject to the approval of the Members at the ensuing Annual General Meeting of the Company."

Cummins India Dividend History: Cummins India announced 46 dividends since July 9, 2001. In last 12 months, Cummins India announced an equity dividend amounting Rs 31.00 per share. At the current share price of Rs 3060.20, Cummins India offers a dividend yield of 1.01%.

Cummins India Technical: Score is 64.36 indicating the stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI is 69.2, RSI below 30 is considered oversold and above 70 overbought. Number of FII/FPI investors increased from 626 to 661 in Dec 2023 quarter. Mutual Funds have increased holdings from 17.72% to 18.61% in Dec 2023 quarter. SBI Blue Chip Fund has 9,223,427 shares (or 3.3%) of Cummins, according to Trendlyne.

Cummins India Stock Split History: Cummins India split face value of its share once since November 20, 2000. Cummins India last split the face value of its shares from Rs 10 to Rs 2 in 2000.The share has been quoting on an ex-split basis from Nov. 20, 2000.

Cummins India Bonus Share History: Cummins India Ltd offered 1 bonus issue since September 20, 2011. The last Bonus that Cummins India declared was in the ratio 2:5 with ex-bonus date set as September 20, 2011.

Anand Rathi Recommends Buy: Anand Rathi Shares & Stock Brokers has assigned buy call to Cummins India shares for a short-term target of Rs 3,100 and a positional target of Rs 3,538 per share.

Cummins India Stock Performance & Return: The 52-week high price of Cummins India shares on BSE is Rs 3098.25 per share and 52-week low price is Rs 1481.10 per share, respectively. Its market capitalisation is Rs 84,857.85 crore. Cummins shares gave return of 49% in last 3-months, zoomed 57% year-to-date, soared 77% in last 6-months, and surged 96% in last 1-year. Cummins India stock zoomed 179% in last 2-years and gained 274% in last 3-years.

Cummins India Q3 Results: The company on February 6, 2024 announced a surge of 26.32% YoY in its standalone net profit to Rs 454.92 crore for the quarter ended December 2023. It announced its net profit at Rs 360.14 crore in the corresponding quarter of last year, as per its BSE filing. Cummins declared its standalone net profit at Rs 454.92 crore, up 26.32% YoY from Rs 360.14 crore declared in the corresponding quarter of last year, pushed by strong demand in domestic and global markets. The company's EPS came at Rs 16.41 for December 2023 quarter as against Rs 12.99 in the corresponding quarter of last year.

Cummins India About: Formed in 1962, the largest entity of Cummins in India, Cummins India Limited is the country's leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution, according to its official website.

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