Blue Chip Auto Ancillary Stock: Rs 20/Share Dividend, Record Date On 19th July; Buy Your Stake?

The largest Cummins subsidiary in India, Cummins India Limited, was founded in 1962 and is the top producer of natural gas and diesel engines in the nation. The three business units that make-up Cummins India Limited are distribution, power systems, and engine. Diesel and alternative fuel engines with displacements ranging from 2.8 to 95 liters, as well as generator sets with a maximum capacity of 3000 kW (3750 kVA) and associated components and technologies, are designed, produced, distributed, and serviced by Cummins in India. With a network of three Generator Original Equipment Manufacturers (GOEMs), twenty-one dealerships, and more than 120 dealership branch offices across India, Cummins India provides top-notch customer service. Cummins India is one of the blue-chip auto ancillaries companies of India with a market cap of Rs 1,12,683.19 Cr.

Cummins India Dividend 2024

"The board of directors in its meeting held on May 29, 2024, has recommended a dividend of Rs. 20/- per equity share (1000%) having a nominal value of Rs. 2/- each for the Financial Year ended March 31, 2024. The said dividend will be payable post approval of the shareholders at the ensuing Annual General Meeting of the Company. The Company has further fixed July 19, 2024 (Friday) as the record date to determine eligible shareholders entitled to receive the final dividend. The said final dividend will be paid on or around, Friday, August 30, 2024," said Cummins India in a statement.

Cummins India Q1FY25 Result Date

"We wish to inform you that meeting of the Board of Directors of the Company will be held on Tuesday, August 06, 2024 to inter-alia consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024," said the company in a regulatory filing.

Cummins India Share Price Target

KKunal V Parar - VP of Technical Research and Algo at Choice Broking said, "The stock has recently found support at its 100-hour moving average on the hourly chart, leading to a rebound. Additionally, it has been trading within an upward channel formation, indicating a positive trend."

"Moreover, the stock is in uncharted territry, suggesting bullish momentum. The daily RSI momentum indicator is above 50, indicating positive market breadth. Given this setup, we anticipate a significant upward movement in the stock towards the levels of 4350 to 4790, with a strict stop loss at 3730," the analyst further added.

Disclaimer

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