October 31, 2018 / 5:24 AM / 4 months ago

BUZZ-Cummins India jumps most in over 3 yrs on upbeat Q2 results

** Engine maker Cummins India Ltd’s shares surges as much as 14.3 pct to 769.40 rupees, their biggest intraday pct gain since Aug. 6, 2015

** Co on Monday reported over 38 pct jump in Q2 profit after tax at 2.12 bln rupees ($28.64 mln), helped by strong domestic sales

** Co remains confident on medium-to-long-term outlook for domestic sales as underlying demand remains positive [bit.ly/2RsKaxb ]

** Deutsche Bank expects strong export and domestic growth to spur consensus upgrades despite election-related hiccups

** DB has a price target of 880 rupees and a “buy” rating on the stock

** More than 1.3 mln shares traded as of 0508 GMT, 3.4 times their 30-day avg of 395,404 shares ($1 = 74.0300 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