Shares of Cummins India are trading higher by 11% to Rs 1,138 on the BSE on huge volumes after the company posted better-than-expected net profit of Rs 211 crore as against expectation of Rs 169 crore. Net profit was Rs 212 crore in the corresponding period last year.
The other income for the June quarter 2015 stood at Rs 60 crore as against Rs 107 crore in the corresponding period last year. The other income for the quarter ended June 30,2104 includes profit on sale of long term investment s worth Rs 82.63 crore which was non recurring in nature.
The stock opened at 1,041 and touched a high of Rs 1,190 on the BSE. A total of 178,565 shares changed hands on the BSE so far against a two-week average of 13,000 shares. On the NSE the volume was over 1.2 million shares.
