Cummins India share gains 6% despite 65% fall in net profit, here’s why
Cummins India share price gained 6% intra day despite the firm reporting a 65 per cent fall in profit impacted by the coronavirus pandemic. The share rose after Cummins India surprised Dalal Street with EBITDA outperformance despite barely a month of operations/shipments in Q1FY21. EBITDA for the firm stood at Rs 2.9 crore in Q1 of current fiscal.
Positive management commentary also buoyed sentiment around the stock. In a contrast to the last few quarters, management sounded more opt…
