Wednesday, 2 September 2009

Cummins India has target of Rs 352: S Dhawan

Cummins India has target of Rs 352, says Sajiv Dhawan of JV Capital Services.

Dhawan told CNBC-TV18, "Cummins India is a very largecap company, very well known for its diesel engines. It’s also into power generation and automotive business, valuations are reasonably high considering the run up we have seen. The stock is near its 52 week high but this company has a very good track record of dividends of the last several years and it's a company that from time to time that can give special dividends to its share holders. So we recommend the stock more for portfolio investors suggests that investors can look to accumulate on any decline. The longer term outlook is obviously reasonable but the short term target for the day is Rs 352. For the one year target, it would be atleast 20% plus, as I said earlier, any stock you buy for six month plus would have to be a target of atleast 20-30% plus otherwise it doesn't make sense to invest in any equity product.”

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.