May 19, 2017 / 4:28 AM / 2 months ago

BUZZ-Cummins India slumps 10 pct on weak March-qtr results

1 Min Read

** Engine maker Cummins India Ltd falls as much as 10.3 pct, its biggest intra-day drop since May 26, 2016

** Co reported net profit fell 5 pct to 1.58 bln rupees ($24.40 mln) from year ago

** Analysts on average expected March-qtr net profit at 1.97 bln rupees, according to Thomson Reuters data

** Nomura, in a note, said March-qtr revenue growth of 11 pct was below the estimated 15 pct rise; added downside risks like weaker global economic outlook on exports could hurt the stock

** Stock had gained 28.8 pct this year as of Thursday's close ($1 = 64.7450 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below