Cummins India rises on Q2 profit jump

Cummins India

08/11/2023 07:42

** Shares of Cummins India  CUMM.NS  up as much as 5.9% at
1789.90 rupees, their biggest intraday pct gain since Feb 9 
    ** Stock posts highest level since Aug 11
    ** Lower costs helped co post a 23% rise in Q2 profit to
3.29 bln rupees ($39.52 mln), while income from ops dipped 1.8%
    ** Expect demand to normalise for rest of the year, CUMM
said  
    ** About 1.8 mln shares change hands, 3.4x the 30-day avg 
    ** Mean recommendation of 22 analysts eyeing the stock is
"hold", median TP is 1,708.50 rupees - LSEG data
    ** Cummins stock up ~27%, YTD  

    ($1 = 83.2560 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))