Cummins India shows some perk up
By
Research Desk
about 9 years ago
Volumes in Cummins India are not too high but the stock price is showing some good upward momentum. The stock opened Rs.3 higher at Rs.1090 and went on to Rs.1115 levels, some 2.5% up; which is where it currently rules.
The sudden perk up on the counter on news that it has completed acquisition of the remaining shares and Cummins Svam Sales & Service Private Limited. It has now become a wholly-owned subsidiary of the Company, effective October 01, 2015.
This Svam Sales was earlier formed as a 50:50 JV and now it has become part of Cummins, adding on directly to the profitability.