Cummins India shares rise as Nifty weakens

Shares of Cummins India Ltd rose 1.54 percent to Rs. 3801.5 was done. During the session, the stock traded at Rs. 3815.95 higher price and Rs. It touched a low of 3742.85.

The return on equity (ROE) for the stock was 26.02 percent. Over the counter traded volume at 10:10AM shares and turnover of Rs. was around 0.52 crores. Shares of Cummins India Limited respectively Rs. 4169.5 to 52 week high and Rs. A 52-week low of 1590.3 was indicated.

The stock’s beta value, which measures its volatility relative to the broader market, stood at 1.1.

Promoter/FII holding

As on 30-Jun-2024 promoters held 0.0 per cent stake in the company, while foreign investors held 17.95 per cent and domestic institutional investors held 17.82 per cent.

Chief Financial Officer

For the quarter ended 30-Jun-2024, the company posted Rs. 2419.29 crores reported consolidated sales, up from the previous quarter’s Rs. 2418.92 crore by 0.02 percent and the year-ago quarter’s Rs. 2307.23 crore was 4.86 percent higher. The net profit after tax in the latest quarter was Rs. 462.61 crore, which was 30.78 percent higher than the same quarter a year ago.

Technicals
MACD indicated a bearish bias on the counter. MACD is known for indicating the opposite trend in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called a signal line, is plotted above the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.