Mumbai: Shares in engines maker Cummins India surged 7.8 per cent to Rs 471.50 after the company said April-June net profit rose 2.3 per cent to a better-than-expected Rs 181 crore net profit.
"Operational profits have come in higher that estimate at Rs 235 crore and even the power cuts will benefit the company," said A.K Prabhakar analyst at Anandrathi Securities. "The stock can go till Rs 550 in 3-4 months," he said.
On Wednesday the stock rose 2.4 per cent, after a blackout in in India spurred hopes of increased sales of back-up electricity units.
Copyright Thomson Reuters 2012
"Operational profits have come in higher that estimate at Rs 235 crore and even the power cuts will benefit the company," said A.K Prabhakar analyst at Anandrathi Securities. "The stock can go till Rs 550 in 3-4 months," he said.
On Wednesday the stock rose 2.4 per cent, after a blackout in in India spurred hopes of increased sales of back-up electricity units.
Copyright Thomson Reuters 2012
