Cummins India Share Price ππ°
Cummins India, the leading manufacturer of diesel and natural gas engines, has announced its quarterly results for December. The company has reported a net profit of INR 455 crores, showing a year-on-year increase of 26.4% in profits. Along with the announcement of quarterly results, the company has also declared a hefty dividend of 900% for its investors.
Established in 1962, Cummins India Limited is a subsidiary of Cummins Inc. and is known for its expertise in diesel and natural gas engines. The company’s standalone net profit has increased by 26% to reach INR 455 crores. The quarterly profit has witnessed a growth of 38% on a quarter-on-quarter basis. The total sales of the company have increased by 17% to INR 2,502 crores, with a quarterly growth of 34%. The interest and pre-tax profit of the company have also seen a significant increase of 26%, reaching INR 603 crores and INR 602 crores respectively.
As of Friday (9th February 2024), Cummins India’s share price was trading at INR 2,618, showing a 1.26% increase. The board of directors of Cummins India has declared an interim dividend of INR 18 per share, which is 900% of the face value of INR 2. The payment of dividends will be made by 6th March, and the record date has been set as 21st February.
On Wednesday, the share price of Cummins India closed at INR 2,400. The stock reached a new 52-week high of INR 2,422. The stock’s 52-week low stands at INR 1,425. The market capitalization of the company is INR 66,500 crores. The stock has witnessed a 5% growth in the past week, 20% growth in the past month, 41% growth in the past three months, 22% growth this year, 65% growth in the past year, and an impressive 205% growth in the past three years.
With the positive quarterly results and the announcement of a hefty dividend, Cummins India’s share price has seen a significant rise. Investors can expect further growth and profits from this leading engine manufacturer. ππΉπ
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