Shares of Cummins India slumped as much as 10 per cent on weak March-quarter results. This is the biggest intra-day drop since May 26, 2016.
At about 10 am, the stock was trading down 6.32 per cent or Rs 66.55 at Rs 986 on the BSE.
The engine maker reported that its net profit fell 5 per cent to Rs 158 crore ($24.40 million) from year ago.
Analysts on average expected March-quarter net profit at Rs 197 crore, according to Thomson Reuters data.
Nomura, in a note, said March-quarter revenue growth of 11 per cent was below the estimated 15 per cent rise; added downside risks like weaker global economic outlook on exports could hurt the stock
The stock had gained 28.8 per cent this year as of Thursday's close.