As I write this, the parent company of Cummins India; Cummins Inc. based out of Columbus Ohio (where I spent many weekends visiting school friends) has declared its quarterly results and is trading at $105 up a whopping 22%
The Dow Jones Industrial Avg is up 6% YTD but Cummins Inc. is up 70% YTD!!
It managed to weather an expected slowdown in US truck sales as newer emission norms (for trucks) went into effect from Jan 1st 2007. Lower sales in its home market were offset by expansion in its overseas joint ventures (The 2 greatest revenue generators for the company happen to be their JV out of Dongfeng China and Cummins India...)
Here is some interesting history about Cummins India if any of the members are interested;
http://content.icicidirect.com/research/myresearch/myresearch1_frame.asp?icicicode=CUMIND
I know the link is not upto date but it gives you a good idea on the companys involvement in India...
Cummins India has deferred anouncing results at this time and will publish its consolidated audited results before June 30 2007.
One can accumulate this stock over the next one or two months at every dip as Cummins India is expected to announce a stellar set of numbers...
I will try to research and provide some links over the next couple of days...
Sorry, I am going out of town for a holiday this weekend and will only get back in town late Sunday.
I'll try to update before Mondays opening...
Remember its a truncated week next week with the NSE being shut on May 1st an 2nd (for May Day and Buddha Purnima)
Have a great weekend
The Dow Jones Industrial Avg is up 6% YTD but Cummins Inc. is up 70% YTD!!
It managed to weather an expected slowdown in US truck sales as newer emission norms (for trucks) went into effect from Jan 1st 2007. Lower sales in its home market were offset by expansion in its overseas joint ventures (The 2 greatest revenue generators for the company happen to be their JV out of Dongfeng China and Cummins India...)
Here is some interesting history about Cummins India if any of the members are interested;
http://content.icicidirect.com/research/myresearch/myresearch1_frame.asp?icicicode=CUMIND
I know the link is not upto date but it gives you a good idea on the companys involvement in India...
Cummins India has deferred anouncing results at this time and will publish its consolidated audited results before June 30 2007.
One can accumulate this stock over the next one or two months at every dip as Cummins India is expected to announce a stellar set of numbers...
I will try to research and provide some links over the next couple of days...
Sorry, I am going out of town for a holiday this weekend and will only get back in town late Sunday.
I'll try to update before Mondays opening...
Remember its a truncated week next week with the NSE being shut on May 1st an 2nd (for May Day and Buddha Purnima)
Have a great weekend