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Shares of Cummins India rose to fresh highs. Know why

Shailendra BhatnagarAug 6, 2015, 16:17 IST

Shares of Cummins India Ltd., a mid sized maker of Industrial Engines, rose to fresh highs after it announced a sharp surge in first quarter sales.

Cummins said its first quarter total income rose 26 percent to 1,314 crore rupees compared with 1,045 crore rupees on the back of higher orders. Profit after Tax in the April-June quarter was flat at 210 crore rupees versus 211 crore rupees in the same period a year ago.

Cummins rose 128.30 rupees, or 12.5 percent, to 1,153 rupees on the National Stock Exchange, where 15.5 lakh shares were traded compared with the 5-day average of 2.21 lakh shares.

Cummins market capitalisation has jumped 68 percent in the past one year to 31,670 crore rupees.