Cummins Financial News

power plant for Arjun Mark 1A tanks as the German engines used for powering the indigenous tanks are likely to be delayed by around four years. «The German engine manufacturers have communicated that they would require around 48 months to restart the production of the engines used by the Arjun Mark 1A tanks to be used by the Indian Army for deployment mainly in the desert sector,» defence sources told ANI. The agencies concerned are now trying to use the period of delay in the project to develop an indigenous engine that can be used for powering the Arjun Matk1As, they said.

Cummins India Ltd’s robust performance in the December quarter (Q3FY24) propelled its shares up by over 8%. The engine manufacturer’s operating revenue rose 16% to ₹2,534 crore, with net profit rising by 26% to ₹455 crore. Besides, Cummins maintained double-digit sales growth forecast for FY24.

Cummins India declared their Q3 FY24 results on 07 Feb, 2024. The topline increased by 16.31% and the profit increased by 20.57% YoY. Compared to the previous quarter, the revenue grew by 32.26% and the profit increased by 51.6%.

(Reuters) — PACCAR Inc (NASDAQ:PCAR) beat estimates for fourth-quarter profit and revenue estimates on Tuesday, on sustained demand for its fuel-efficient truck models.

By David Shepardson

Nifty is poised to take a pause and consolidate, maintaining a positive bias within the broader range of 21,600-20,800. Analysts suggest that any potential breakout above 21,600 could propel the index to a new all-time high within the range of 22,000-22,200. Stocks such as L&T, Reliance, HDFC Bank, Manappuram Finance, Maruti, GAIL, Hindalco, Arvind Fashion, Hind Oil Exploration, Graphite, Engineers India, Persistent, Mphasis, and Cummins are expected to sustain strong buying interest, according to analysts. ARPAN SHAH, SENIOR RESEARCH ANALYST, MONARCH NETWORTH CAPITAL Where is the Nifty headed this week? Nifty has rallied from 18,850 to 21,593 in the last two months.

Engine manufacturer Cummins Inc. has agreed to pay an over $1.67 billion penalty to settle regulatory claims that the company unlawfully altered hundreds of thousands of pickup truck engines to bypass emissions tests

Investing.com – Main U.S. indexes rose Friday in light volume ahead of the Christmas holiday as inflation data lifted hopes the Fed will begin lowering interest rates in the first quarter of next year.

Sanjiv Bhasin, Director, IIFL Securities, says “Commodities are back. Steel prices are going to go through the roof. Tata Steel is a clear outperformer. Before the budget, you will see Rs 170 on Tata Steel. Second pick would be Ashok Leyland. On a year-on-year, there has been a 9% increase in their sales in commercial vehicles. Tata Steel and Ashok Leyland are my two favourites. On the trading side, HDFC and Reliance are now the big heavyweights which will drive the index back to 21,500 and beyond.” I have been observing your commentary for almost a fortnight now, you are positive, but at the same time, you are nudging the investors. If you are sitting on very fat profits, do take some profit off the table as well. So, what is the positioning right now in the market? Sanjiv Bhasin: We have been cautioning you that the midcap rally was unsustainable, it needed a sharp correction. And you got a sharp correction of 3.5% on a single day and beyond. But that is where the feeling of missing out is tremendous. Mutual funds are sitting on cash and they try to time the market which is unfortunate and that is why they are now latching on to any correction.

Premier League (IPL) being held in Dubai’s Coca-Cola Arena. Cummins, also Australia’s cricket captain, was sold first to Sunrisers Hyderabad for a record-breaking ₹20.5 crore. But soon enough, he was pipped to the peak by mate Starc, who went to Kolkata Knight Riders for ₹24.75 crore after a mighty bidding war with Gujarat Titans.

Indian Premier League 2024 action underway in Dubai on 19 December and two players from Australia picked by franchises for over ₹20 crore each, netizens are making fun a and sharing hilarious memes on social media. As per details, Australia's star bowler Mitchell Starc became the most expensive player to be sold with a price of ₹24.75 crore to Kolkata Knight Riders.

IPL auction 2024: The management of Mumbai Indians faced a lot of backlash for their decision to replace Rohit Sharma with Hardik Pandya as the skipper of the IPL team. After the decision, social media was abuzz with rumors about Mumbai Indians planning to trade Rohit Sharma and some other crucial players of the franchise. While speaking with Cricbuzz, the officials of Mumbai Indians denied all such claims and called the reports completely “false".

The auction will have 116 capped players, 215 uncapped players, and 2 players from associate nations. Out of the available 77 slots, up to 30 will be reserved for overseas players. The previous IPL player auctions have seen some remarkable records being broken. In the TATA IPL 2023 auction, a total of 80 players were sold, and the franchises collectively spent Rs 167 crore in Kochi. All-rounders were in high demand, and English player Sam Curran became the most expensive player in IPL auction history, returning to the Punjab Kings with a bid of Rs 18.50 crore. Mumbai Indians bought Cameron Green for Rs 17.50 crore, and Chennai Super Kings acquired Ben Stokes for Rs 16.25 crore, making them part of the top 10 most expensive players in IPL history. In the 2022 auction, 204 players were sold, and Rs 551 crore was spent by the franchises in Bengaluru. Young Indian cricketers stole the show, with Ishan Kishan fetching the highest bid of Rs 15.25 crore, securing his return to the Mumbai Indians. Deepak Chahar rejoined the Chennai Super Kings for Rs 14 crore, and Shreyas Iyer was bought by Kolkata Knight Riders for Rs 12.25 crore. Avesh Khan became the most expensive uncapped player in IPL history, with a bid of Rs 10 crore. In the list of top 10 most expensive players events two Indians — Yuvraj Singh and Ishan Kishan — make into the list while English all-rounder Ben Stokes features twice.

Sensex Today | Share Market Live Updates: Sensex and Nifty may open higher on Tuesday tracking positive trends on the Gift Nifty. Markets gained globally ahead of key economic data. Asian stock markets saw an uptick in anticipation of important economic data from the US and upcoming meetings from major central banks, which may shed light on potential rate cuts next year.

Buy or sell stocks for today: Indian stock market continued its ritual of touching new highs with BSE Sensex and Nifty 50 indices crossing 70,000 and 21,000 mark respectively. Nifty 50 index remained range-bound throughout Monday session but ended with marginal gains at 20,997 levels, BSE Sensex gained 102 points and finished at 69,928 mark while Bank Nifty index added 52 points and closed at 47,314 levels.

Cummins India Ltd. with a target price of Rs 2250.

₹89,153 crore in the September quarter (Q2FY24), up 72% year-on-year. L&T’s order prospects pipeline as of September 2023 also looks strong at ₹8.8 trillion. The engineering, procurement and construction major expects to surpass its order inflow target of 10-12% and revenue growth forecast of 12-15% for FY24.

₹328.60 apiece after gaining 20% in the previous trading session. This remarkable uptick in shares can be attributed to the company's multiple order wins.

World Cup final defeat, India head coach Rahul Dravid needs time to reflect on his future with the national team even as his his two-year contract ended on Sunday. India lost the World Cup title clash to Australia by six wickets and with this assignment, 'Mr Dependable's contract with the BCCI has ended officially. The issue has not yet come up for discussion within the BCCI even though Dravid has guided the team to two ICC tournament finals and one semi-final in his two-year stint.

analysts emphasise the critical importance of Nifty maintaining its position above 19,400. Nifty recorded a 1.73% gain last week, closing at 19,732. Analyst recommendations for trading include stocks such as HCLTech, CESC, Jindal Stainless, Aurobindo Pharma, Dr Reddy’s, NMDC, and Cyient. KAPIL SHAH TECHNICAL ANALYST, EMKAY GLOBAL FINANCIAL SERVICES Where is the Nifty headed? In the short term, the index will be considered in a bullish zone if it stays above 19,500.

Travis Head has produced an innings for the ages to lead Australia to a sixth Cricket World Cup crown, beating India by six wickets in the final.