Nomura has maintained its buy call on Cummins India with a target price of ₹4,500 per share, citing a strong performance in the recent quarter. The brokerage reported that the company’s revenue beat estimates by 12%, led by solid growth in both domestic and export markets.
EBITDA also surpassed projections by 21%, driven by cost optimisation measures. Nomura said the management remains optimistic about future prospects, supported by a diversified portfolio and the company’s agility in managing operational challenges effectively.
At the time of the report, Cummins India shares were trading at ₹4,314.60.
Disclaimer: The views and target price mentioned are those of the brokerage firm (Nomura). This article is for informational purposes only and does not constitute investment advice.
