Hot Money Tip! Log 38% profit in one year! Experts reveal this money-making opportunity
Hot Money Tip: Cummins India share price is expected to hit Rs 760 per stock levels in one year after sustaining above its current resistance of Rs 640.
Hot Money Tip: A hot money making opportunity has just been revealed by experts. Investors can get as much as 38% profit from this investment. Cummins India share price has scaled from Rs 550 per stock level to Rs 578 per stock level, and in this period, it has made a high of Rs 605.25. According to the stock market experts, Once Cummins India share price hits Rs 550 per stock level, it would be a good buying opportunity for the portfolio stock investors. In one year, stock market experts are expecting Cummins India stock price to hit up to Rs 760 mark!
Highlighting the fundamentals of Cummins India stocks Amar Kedia, Research Analyst at Emkay Global said, "Cummins India’s Q3 results beat our earnings expectations by 24 per cent against 18 per cent, partly driven by one-time revenue bump up in its distribution business and royalty cost savings. The modest recovery in Exports and Industrial segments were key positives, nevertheless. Cummins India management has maintained FY20 revenue guidance of 3-5 per cent growth for domestic and a 20 per cent decline for export business. We raise FY20-22E EPS by 2-5 per cent factoring in cost-reduction initiatives while maintaining our near 10 per cent revenue CAGR estimate."
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On his suggestion to the share market investors in regard to Cummins India stock, Kedia said, "Cummins India shares can go up to Rs 741 in one year. I suggest share market investor to buy Cummins India shares for a long-term horizon."
Expecting some correction in Cummins India shares, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Cummins India shares are moving in the range of Rs 520 per stock levels to Rs 640 per stock levels. Currently, Cummins India shares are trading at Rs 578 and I would suggest market investors wait for a while as there can be some more correction in the counter and it may go down up to Rs 550 per stock levels. An investor should buy Cummins India at around Rs 550 levels for the immediate target of Rs 640. Once, it breaches Rs 640 levels, its next target would be Rs 750-760."
Singre said that Cummins India will hit Rs 760 levels in the next one year as it's a portfolio stock to buy. However, he said that a share market investor buying Cummins India shares should maintain a stop loss of Rs 520 and once it breaches Rs 640 levels, one should maintain a trailing stop loss at Rs 620.
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