BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains buy on Cummins India
Cummins reported lower-than-estimated earnings for the Q4 due to 30 per cent decline in exports. However, management has guided for 8-12 per cent growth in domestic sales and flat exports in FY17. We have reduced FY17 and FY18 earnings estimates by 4 per cent and 6 per cent respectively to build in lower exports in Q4.