Cummins India announced that Vivek Malapati, Vice President - Distribution Business, a Senior Management Personnel of the Company has resigned with effect from close of business hours on 31 August 2024.Powered by Capital Market - Live

Cummins India announced that its Board of Directors has appointed Shveta Arya as an Additional Director and the Managing Director (Designate) effective 08 August 2024.Powered by Capital Market - Live

The key equity benchmarks traded with robust gains in the mid-afternoon trade. The Nifty traded above the 24,250 mark. Pharma shares advanced after declining for the past consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 815.60 points or 1.04% to 79,408.67. The Nifty 50 index added 290.75 points or 1.21% to 24,283.35. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index jumped 2.39% and the S&P BSE Small-Cap index gained 2.19%. The market breadth was strong. On the BSE, 2,939 shares rose and 936 shares fell. A total of 107 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 13.47% to 16.22. Buzzing Index: The Nifty Pharma index rose 1.92% to 21,977.20. The index shed 0.09% in the past consecutive trading sessions. Lupin (up 4.16%), Natco Pharma (up 3.87%), Aurobindo Pharma (up 3.74%), Alkem Laboratories (up 3.28%), Biocon (up 3.23%), Zydus Lifesciences (up 3.2%), Torrent Pharmaceuticals (up 2.96%), Glenmark Pharmaceuticals (up 2.31%), Divis Laboratories (up 2.12%) and Abbott India (up 2.01%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal rallied 1.64% to 6.985 as compared with previous close 6.985. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9650, compared with its close of 83.9200 during the previous trading session. MCX Gold futures for 5 October 2024 settlement shed 0.04% to Rs 68,937. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 103.12. The United States 10-year bond yield gained 1.19% to 3.928. In the commodities market, Brent crude for October 2024 settlement added 27 cents or 0.35% to $76.75 a barrel. Stocks in Spotlight: Cummins India jumped 6.92% after the company's standalone net profit increased 33% to 419.8 crore on 4.02% rise in revenue from operations to Rs 2,262.03 crore in Q1 FY25 over Q1 FY24. Caplin Point Laboratories added 1.03% after the company's consolidated net profit jumped 19.8% to Rs 124.92 crore on 16.1% increase in revenue from operations to Rs 458.96 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Domestic sales jumped 12% YoY to Rs 1,873 crore while exports slipped 22% YoY to Rs 389 crore during the period under review. Profit before tax stood at Rs 550.91 crore in first quarter of FY25, up 32.89% from Rs 414.56 crore posted in corresponding quarter previous fiscal. Ashwath Ram, managing director of Cummins India, said, 'Indian economy continues to be resilient despite global geopolitical uncertainties impacting the business sentiment globally. Indian economic outlook continues to be positive; tax collections are indicating the strength of underlying business activities. The latest Union budget emphasized the government's continued focus on infrastructure development and continued higher budgetary allocation for infrastructure, special projects for end-to-end connectivity for ports, coal, steel, and fertilizer sectors. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions. For the quarter ending June 30, 2024, CIL domestic revenue was driven by strong domestic demand from all segments especially from the industrial sector. Powergen revenue was expectedly softer considering the sunsetting of CPCB II norms on June 30, 2024. Exports revenue grew 13% over the prior quarter due to an improvement in demand from the end markets.' On outlook front, the company stated, 'The investment in infrastructure (public and private) and broader economic growth continue to drive profitable growth for the company. For the Powergen sector, there is a complete switchover to CPCB IV+ emission norms-compliant products effective July 1, 2024. The company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. We remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects. Exports might see an impact in the near term due to global economic uncertainties. The company closely monitors the results of geopolitical events unfolding in different parts of the world and their impact on global demand and supply chains. Also, the company has a diversified portfolio of products and is striving for a recovery in exports.' Meanwhile, Ashwath Ram has resigned as managing director (MD), director and key managerial personnel of the company effective from close of business hours on 31 August 2024, as he will be assuming a full-time global role with Cummins Inc. USA. Further, based on the recommendation of the nomination and remuneration committee, the board has approved the appointment of Shveta Arya as an additional director and MD (Designate) of the company with effect from 8 August 2024. Further, she will take over as whole-time MD of the company with effect from 1 September 2024 for a term of three consecutive years, subject to members' approval. Cummins India is a leading manufacturer of diesel and natural gas engines. The Company is engaged in the business of manufacturing trading and selling of engines and allied activities. Powered by Capital Market - Live

Net profit of Cummins India rose 30.78% to Rs 462.61 crore in the quarter ended June 2024 as against Rs 353.72 crore during the previous quarter ended June 2023. Sales rose 4.08% to Rs 2273.87 crore in the quarter ended June 2024 as against Rs 2184.69 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales2273.872184.69 4 OPM %20.8115.67 - PBDT639.41489.16 31 PBT595.07452.91 31 NP462.61353.72 31 Powered by Capital Market - Live

Repco Home Finance Ltd, Kirloskar Brothers Ltd, Escorts Kubota Ltd and Eicher Motors Ltd are among the other losers in the BSE's 'A' group today, 02 August 2024.Cummins India Ltd tumbled 7.67% to Rs 3520.95 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 55709 shares were traded on the counter so far as against the average daily volumes of 16682 shares in the past one month.Repco Home Finance Ltd lost 6.34% to Rs 508.15. The stock was the second biggest loser in 'A' group.On the BSE, 67344 shares were traded on the counter so far as against the average daily volumes of 21365 shares in the past one month.Kirloskar Brothers Ltd crashed 5.66% to Rs 2267.95. The stock was the third biggest loser in 'A' group.On the BSE, 9453 shares were traded on the counter so far as against the average daily volumes of 14632 shares in the past one month.Escorts Kubota Ltd dropped 5.36% to Rs 3923.9. The stock was the fourth biggest loser in 'A' group.On the BSE, 12864 shares were traded on the counter so far as against the average daily volumes of 29153 shares in the past one month.Eicher Motors Ltd shed 4.85% to Rs 4726.9. The stock was the fifth biggest loser in 'A' group.On the BSE, 15197 shares were traded on the counter so far as against the average daily volumes of 13551 shares in the past one month.Powered by Capital Market - Live