The Hindu Business Line : Cummins up on value buy

Cummins is back in favour at the bourses with analysts predicting robust growth for the company. The stock is also being picked up by fund managers, who were viewing this as being undervalued in comparison with its peers. The stock touched its 52-week high of Rs 269 earlier this month; on Monday, it opened at Rs 241.90 and touched an intra-day high of Rs 245.20 before closing at Rs 242.35.

Average volumes have been close to 3.5 lakh shares on the BSE. The exchange reported a total turnover of over Rs. 14 crore on Friday. The stock, which had touched a low of Rs 105.35, has been rated a `hold' currently by several brokerages.

Veena Venugopal

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