Cummins up 5.8%, adds Rs 8 bn in m-cap as Q3 profit jumps
01st February 2013 11:18 AM
Cummins India, engaged in design and manufacture of diesel engines and generator sets, surged on Friday after reporting a growth of 66% in net profit to Rs 2.34 billion for the quarter ended Dec. 31, 2012 as compared to Rs 1.41 billion in the same period last year.
The profit growth was aided by higher margin (up 245 bps) and other income (up 45%). One time gain of Rs 475 million also helped the company to improve bottom line. The company registered net sales of Rs 10.71 billion, a rise of 13.71% from Rs 9.42 billion during the corresponding period in the last financial year. Shares of the companyare trading at Rs 517, up Rs 28.45, or 5.82% at the Bombay Stock Exchange (BSE) on Friday at 9:46 a.m.
This leads to sharp rise in market capitalisation of Rs7.9 billion to Rs 143.3 billion.The scrip has touched an intra-day high of Rs 526 and low of Rs 500. The total volume of shares traded at the BSE is 29,006.In the earlier session, the shares climbed 1.99%, or Rs 9.55, at Rs 488.55. Currently, the stock is trading down 6% from its 52-week high of Rs 550 and above 30.54% over the 52-week low of Rs 396.05.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 492.65 (4.10) (0.83) 1 Month 518.95 (30.40) (5.86) 3 Months 478.85 9.70 2.03 6 Months 464.00 24.55 5.29 1 Year 430.40 58.15 13.51 Note: Based on previous day closing price.
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