Cummins India slips after Goldman Sachs' double downgrade

Cummins India

11/10/2024 07:08

** Shares of Cummins India  CUMM.NS  fall 5.1% to 3,588
rupees
    ** Stock among top losers on Nifty midcap 150 index
 .NIMI150 , which is up 0.03%
    ** Goldman Sachs double downgrades stock to "sell" from
"neutral"
    ** Brokerage says near-term margins coming under pressure,
medium-term growth moderating
    ** Weak macro environment and stringent emission norms to
keep export growth rates low- Goldman Sachs 
    ** More than 920,000 shares change hands, 2.1x its 30-day
avg
    ** Twenty-two analysts covering the stock on avg have a
"hold" rating; median PT is 3,390 rupees - LSEG data
    ** Stock up 83% so far this year vs 28% rise in Nifty midcap
150


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))