Cummins scales lifetime high on strong demand outlook

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February 9, 2023
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Cummins India is a manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.

Representative image (AP Photo/Amr Nabil, File)

Shares of Cummins India inched higher on February 9 as a sharp jump in Q3 revenue and net profit along with better operational performance cheered investors. Strong demand outlook by the management also drove the stock higher.

The stock scaled its lifetime high of Rs 1,618 apiece at open. At 9:39 am, it was trading 9.4 percent higher at Rs 1,613.55 on the BSE.

Ashwath Ram, Managing Director, Cummins India, said, “The demand momentum we saw in the earlier quarters continued across segments, including international markets during the quarter”.

He sees continued demand from end markets like data centers, commercial real estate, rental, infrastructure, healthcare, and telecom among others.

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