1000% Dividend: Buy Large Cap Diesel Engine Stock Post Q4, TP Rs 4100: Motilal Oswal

Two brokerage firms appear upbeat on Cummins India share after robust quarter with strong beat on margins. Current market price of Cummins India share on BSE is Rs 3552.70 per share. Cummins India shares declined 6.30% in last 2-weeks but offered attractive returns of 81.73% year-to-date. Cummins India shares offered multibagger returns in last 1-year at 101.50%. Cummins India on May 29, 2024 recommended final dividend of Rs 20/- per equity share for the FY ended March 31, 2024.

The company declared its profit after tax (PAT) for the quarter ended March 31, 2024 at Rs 562 crore, up 76% compared to the same quarter last year and higher by 23% compared to the previous quarter. More details below:

Cummins India Recommends Dividend on May 29, 2024: As per the regulatory filing of Cummins India dated May 29, "We wish to inform that the Board of Directors have recommended Final Dividend of Rs. 20 /- (1000 %) per equity shares on 277,200,000 equity shares (Face Value Rs. 2/- each fully paid up) for the financial year ended on March 31, 2024, in addition to the interim dividend of Rs. 18/- per share declared on February 07, 2024. The said final dividend, as may be approved by the members at the Annual General Meeting, will be paid on or around August 30, 2024."

Cummins India Share Performance: The 52-week high price of Cummins India share on BSE is Rs 3899.95 per share (as on 21/05/2024) and 52-week low price is Rs 1590.30 per share (as on 09/10/2023). Cummins India has a market capitalisation of Rs 98,480.84 crore. Cummins India shares offered return of 86% in last 6-months, gained 247% in last 2-years, and offered 352% return in last 3-years only.

Should You Buy Cummins India Shares? Motilal Oswal has buy on Cummins India share with target price of Rs 4100 per share. Meanwhile, Amit Anwani, Research Analyst, Prabhudas Lilladher Pvt Ltd recommended hold call for Cummins India share without giving the target price.

Cummins India Dividend History: Cummins India announced 47 dividends since July 9, 2001. In last 12 months, Cummins India declared an equity dividend amounting Rs 31.00 per share. At the current share price of Rs 3552.70, Cummins India offers a dividend yield of 0.87%.

Cummins India Stock Split History: Cummins India split face value of its share once since November 20, 2000. Cummins India last split the face value of its shares from Rs 10 to Rs 2 in 2000.The share has been quoting on an ex-split basis from Nov. 20, 2000.

Cummins India Bonus Share History: Cummins India Ltd offered 1 bonus issue since September 20, 2011. The last Bonus that Cummins India declared was in the ratio 2:5 with ex-bonus date set as September 20, 2011.

Cummins India About: Formed in 1962, the largest entity of Cummins in India, Cummins India Limited is the country's leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal and Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.