Sell Cummins India, target price Rs 515: Motilal Oswal

Motilal Oswal has a sell call on with a target price of Rs 515. The current price of Cummins India is Rs 850.

Cummins India, incorporated in the year 1962, is a Mid Cap company with a market cap of Rs 23742.18 Crore, operating in Engineering sector.

Cummins India's key Products/Revenue Segments include , Sale of services, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2020.

Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 1491.57 Crore, up 21.47 per cent from last quarter's total income of Rs 1227.98 Crore and down 1.82 per cent from last year same quarter's total income of Rs 1519.27 Crore. Company has reported net profit after tax of Rs 196.06 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51 per cent stake in the company as of Dec 30, 2020, while FIIs held 8.95 per cent, DIIs 27 .50 per cent and public and others 12.53 per cent.