Cummins India shares up 7.02% as Nifty gains

economictimes.indiatimes.com:

Cummins India Ltd. traded 7.02 per cent up in Wednesday's trade at 01:49PM (IST). Around 52,365 shares changed hands on the counter.
The counter opened at Rs 3579.9 and touched an intraday high and low of Rs 3817.55 and Rs 3452.85, respectively, in the session so far. The stock of Cummins India Ltd. quoted a 52-week high of Rs 4169.5 and a 52-week low of Rs 1590.3.

Total market cap of the Cummins India Ltd. stood at Rs 96658.25 crore at the time of writing this report.
Key Financials The company reported consolidated net sales of Rs 2419.29 crore for the quarter ended 30-Jun-2024, up 0.02 per cent from previous quarter's Rs 2418.92 crore and up 4.86 per cent from the year-ago quarter's Rs 2307.23 crore.
The net profit for latest quarter stood at Rs 462.61 crore, up 30.78 per cent from the same quarter a year ago.
Shareholding pattern As of 30-Jun-2024, DIIs held 17.82 per cent stake in the firm, while foreign institutional investors held 17.95 per cent and the promoters 51.0 per cent.

Valuation ratio According to BSE data, the stock traded at a price-to-earnings multiple of 52.88 and a price-to-book ratio of 12.61. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.
Cummins India Ltd. belongs to the Engines industry.