CUMMINSIND

March 29 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA LTD - RECEIVES TAX DEMAND OF 525.6 MILLION RUPEES AND PENALTY OF 525.6 MILLION RUPEES

Source text: ID:nNSE5j2ScY

Further company coverage: CUMM.NS

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** Tata Motors TATM.NS, Cummins India CUMM.NS to see fund inflows of $173 mln and $114 mln, respectively - highest among 6 stocks to included in Nifty Next 50 index, Nuvama says

** Adds ICICI Lombard General Insurance ICIL.NS, Info Edge (India) INED.NS expected to see outflow of $86 mln and $76 mln, respectively - highest among stocks being removed from index

** Nifty indexes semi-annual rejig set for March 27

** TATM falls 0.6%; CUMM nearly flat

** ICIL, INED down 1.2% and 3.3%, respectively

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

Feb 4 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA Q3 CONSOL PAT 4.86 BILLION RUPEES

• CUMMINS INDIA Q3 CONSOL INCOME FROM OPERATIONS 30.06 BILLION RUPEES

• CUMMINS INDIA LTD - DECLARES INTERIM DIVIDEND OF 20 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: CUMM.NS

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Nov 6 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA Q2 CONSOL PAT 6.22 BILLION RUPEES

• CUMMINS INDIA Q2 CONSOL INCOME FROM OPERATIONS 31.22 BILLION RUPEES

Source text: ID:nBSE6HkhvP

Further company coverage: CUMM.NS

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Updates with DOE statement, more details

By Valerie Volcovici, David Shepardson and Nichola Groom

WASHINGTON, Oct 7 (Reuters) -

The U.S. government is considering cancelling billions of dollars in funding for clean energy programs, including awards for auto manufacturing and carbon capture, according to a list of targeted projects seen by Reuters.

Projects on the list include two major direct air capture hubs that received billion-dollar awards from former President Joe Biden's administration, including one that involves oil company Occidental OXY.N.

Semafor reported the list earlier and said it could impact $12 billion in projects.

Also on the list is $500 million awarded last year to General Motors GM.N to convert its Lansing Grand River Assembly Plant in Michigan to EVs; $335 million for Stellantis STLAM.MI to convert the shuttered Belvidere Assembly plant in Illinois to build mid-size electric trucks; and $250 million for Stellantis to convert its Indiana Transmission Plant in Kokomo to produce EV components.

Last week, the Department of Energy announced plans to cancel $7.56 billion in financing for hundreds of energy projects it said would not provide sufficient returns to taxpayers.

The Energy Department is also considering rescinding a $32 million award to Hyundai Mobis 005380.KS which operates a Stellantis supplier in Ohio to produce plug-in hybrid components and battery packs and $89 million for Harley-Davidson HOG.N expand its York, Pennsylvania plant for EV motorcycle manufacturing.

Also on the list is a $80 million award for Blue Bird BLBD.O to convert a former Georgia plant to build electric school buses; and $75 million to engine company Cummins CMI.N to convert part of an existing Indiana plant to make zero-emission components and electric powertrain systems.

The DOE also is considering cutting $208 million for the Volvo Group VOLVb.ST to upgrade plants in Maryland, Virginia and Pennsylvania to increase EV production capacity.

The Energy Department said in a statement it "continues to conduct an individualized and thorough review of financial awards made by the previous administration. No determinations have been made other than what has been previously announced."

Occidental, GM, Harley-Davidson and Stellantis declined or did not immediately comment.

The total sum of the grants in question was uncertain. The list included some projects that DOE said in May it canceled.

The previous cancellations included $331 million at an olefins plant carbon reduction at Exxon's Baytown, Texas refinery; $500 million to Heidelberg Materials, US in Louisiana; and $375 million to Eastman Chemical Company EMN.N in Texas

White House budget director Russell Vought said in a post on X last week that the administration would terminate nearly $8 billion in climate-related funding in 16 Democratic-led states, including California and New York.

(Reporting by Valerie Volcovici in Washington, additional reporting by Chandni Shah in Bengaluru, Nichola Groom in Los Angeles and David Shepardson and Timothy Gardner in Washington; Editing by Nia Williams and David Gregorio)

((Chandni.shah@thomsonreuters.com;))

** Shares of Cummins India CUMM.NS rise 2.9% to 3,780 rupees, highest since October 16, 2024

** Stock marks biggest intraday pct gain since May 30

** Co posts 30.5% Y/Y rise in June-qtr consol PAT, helped by robust demand for its engines and power generators

** Consolidated revenue from operations up 25.7% Y/Y

** CUMM rated "buy" by 22 analysts on average; median target price is 3,500 rupees – data compiled by LSEG

** Stock up 15.4% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

((rudrapratap.singh@thomsonreuters.com))

Aug 7 (Reuters) - Cummins India CUMM.NS reported a 30.5% rise in first-quarter profit on Thursday, helped by robust demand for its engines and power generators.

The company, a unit of U.S.-based truck engine maker Cummins Inc CMI.N, said its consolidated profit after tax rose to 6.04 billion rupees ($69.05 million) from 4.63 billion rupees a year ago.

Demand for power generation equipment typically rises in the summer due to increased electricity consumption from cooling systems and a higher risk of grid overloads or outages, which helps companies like Cummins India.

Despite an early onset of monsoons across India this year, several regions still experienced heat waves. A study found in May that nearly 60% of Indian districts face a "high to very high" risk from extreme heat, with rising night-time temperatures and humidity intensifying.

The company had noted demand across the board, including the generator business, in its last earnings call in May.

Overall sales rose 25.7% on-year to 28.59 billion rupees in the June quarter.

Sales of engines and power generators accounted for the majority of the company's revenue, according to their latest annual report.

Cummins also recorded a one-off gain of 125.9 million rupees in the quarter from the sale of its stake in a subsidiary.

Total expenses rose by 23.4% to 23.34 billion rupees, primarily driven by a 34.2% surge in raw material costs.

Parent Cummins Inc reported second-quarter revenue above Wall Street estimates on Tuesday, helped by strong demand for its power generation systems.

Cummins India's shares closed up 1.1% ahead of results.

($1 = 87.4740 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

July 25 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA LTD - RECEIVES CUSTOMS ORDER DEMANDING 14.3 MILLION RUPEES

Source text: ID:nBSE842Vrz

Further company coverage: CUMM.NS

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May 28 (Reuters) - Cummins India CUMM.NS reported a lower fourth-quarter profit on Wednesday, as ballooning costs offset the benefit of price hikes it took for some of its generator sets.

The company, a unit of U.S. truck engine maker Cummins Inc CMI.N, said its consolidated profit after tax came in at 5.30 billion rupees ($62.1 million), 1.7% lower than 5.39 billion rupees a year ago.

The company's sales increased 6.4% to 24.14 billion rupees, which analysts attributed to price hikes during the quarter, particularly for its CPCB 4+ generator sets.

The CPCB 4+ generator sets comply with the latest emission standards set by India's federal pollution control board, and make up about 40% of sales.

Cummins India's total expenses rose 9.2% to 19.88 billion rupees, mainly due to a 16.8% increase in raw material costs.

The company in February said that demand growth is expected to continue supported by government capital expenditure and demand across power cars, tower cars in railways and the construction sectors.

Meanwhile, parent Cummins Inc withdrew its annual forecast, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump's tariffs.

Shares of Cummins India closed flat ahead of results on Wednesday.

($1 = 85.3850 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Varun H K and Leroy Leo)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

Corrects to year-earlier quarter from the latest quarter in paragraph 7; also corrects to gain from charge in the same paragraph

May 5 (Reuters) - Cummins CMI.N withdrew its annual forecast on Monday, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump's sweeping import tariffs.

The U.S. truck-engine maker had previously projected 2025 revenue growth ranging from a 2% decrease to a 3% increase, with core profit expected to comprise 16.2% to 17.2% of sales.

"Due to growing economic uncertainty, the company is not providing an outlook for revenue or profitability for the remainder of 2025," Cummins said in its earnings release.

The North American trucking market, already dealing with an oversupply of equipment, is now confronted with new challenges arising due to the erratic import tariffs.

General Motors GM.N pulled its annual forecast earlier this month, days after pausing plans to buy back $2 billion of shares in the first half of the year.

For the quarter ended March 31, Cummins reported net income of $824 million, or $5.96 per share, compared with $2 billion, or $14.03 apiece, last year.

The company said its first-quarter profit last year included a $9.08 per share gain related to the split-off of its remaining interest in Atmus Filtration Technologies ATMU.N and restructuring expenses of 15 cents per share.

Net sales for the first quarter came in at $8.17 billion, slightly below the estimates of $8.19 billion, according to data compiled by LSEG.

Shares of the company fell 1.5% in premarket trading.

(Reporting by Raechel Thankam Job and Aishwarya Jain in Bengaluru; Editing by Tasim Zahid)

((RaechelThankam.Job@thomsonreuters.com;))

Feb 7 (Reuters) - Cummins India Ltd CUMM.NS:

• APPROVES SALE OF 100% STAKE IN CSSPL

• SALE CONSIDERATION AMOUNTS TO 565 MILLION RUPEES

Source text: ID:nNSE3NtZpG

Further company coverage: CUMM.NS

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** Cummins India CUMM.NS soars as much as 5.8% to 3,090 rupees; set to gain for third straight day

** Co, a unit of U.S.-based truck engine maker Cummins CMI.N, reports ~12% y/y rise in Q3 consol PAT

** Says overall sales up ~22% y/y, which largely included the sales of engines and power generators

** Adds co remains cautiously optimistic about demand outlook for the near-term

** More than 1 mln shares traded vs 30-day avg of 679,642

** Stock rated "hold" on avg; median PT is 3,650 rupees - LSEG

** CUMM last up 1.7%, trims YTD losses to 10.8%

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))

Feb 5 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA LTD - REMAINS OPTIMISTIC ABOUT RECOVERY IN EXPORTS DEMAND

• CUMMINS INDIA - REMAIN CAUTIOUSLY OPTIMISTIC ABOUT DEMAND OUTLOOK FOR NEAR-TERM

Source text: ID:nBSE9WJ1Nt

Further company coverage: CUMM.NS

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Jan 15 (Reuters) - Cummins India Ltd CUMM.NS:

• GOT TOTAL TAX DEMAND ORDER FOR 133 MILLION RUPEES

Source text: [ID:]

Further company coverage: CUMM.NS

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Dec 5 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA - AJAY SHRIRAM PATIL RESIGNS AS CFO

Source text: ID:nBSE1LdwV

Further company coverage: CUMM.NS

((reuters.briefs@thomsonreuters.com;))

Nov 7 (Reuters) - Cummins India CUMM.NS, a unit of U.S.-based truck engine maker Cummins CMI.N, reported a higher second-quarter profit on Thursday, helped by robust demand for its engines and power generators.

The diesel and natural gas engine maker's consolidated profit after tax came in at 4.49 billion rupees ($53.3 million) for the three months ended Sept. 30, up from 3.29 billion rupees a year earlier.

The company's revenue increased due to price hikes, particularly for its CPCB 4+ generator sets, analysts said.

These generator sets comply with the latest environment-friendly emission standards set by India's federal pollution control board.

A restock in inventory and steady demand across all its segments helped increase volumes, analysts added.

Sales in its engine segment, which includes power generator sets and contributes nearly 80% to overall sales, grew 30% during the quarter.

The segment boosted overall quarterly sales to 30.09 billion rupees.

India's infrastructure is growing in tandem with power demand, ensuring that sales for the company's products remain high despite price increases, the company had said in August.

Cummins India's income from operations grew 30% to 24.65 billion rupees in the second quarter. Costs of materials, which account for more than half of its total expenses, rose 38.4%.

Parent Cummins Inc beat third-quarter profit estimates earlier this week, due to robust demand for its power generation products.

Cummins' shares closed 1.6% lower ahead of the results and have climbed 81% so far in 2024.

($1 = 84.2900 Indian rupees)

(Reporting by Meenakshi Maidas and Kashish Tandon in Bengaluru; Editing by Abinaya Vijayaraghavan and Shreya Biswas)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

** Shares of Cummins India CUMM.NS fall 5.1% to 3,588 rupees

** Stock among top losers on Nifty midcap 150 index .NIMI150, which is up 0.03%

** Goldman Sachs double downgrades stock to "sell" from "neutral"

** Brokerage says near-term margins coming under pressure, medium-term growth moderating

** Weak macro environment and stringent emission norms to keep export growth rates low- Goldman Sachs

** More than 920,000 shares change hands, 2.1x its 30-day avg

** Twenty-two analysts covering the stock on avg have a "hold" rating; median PT is 3,390 rupees - LSEG data

** Stock up 83% so far this year vs 28% rise in Nifty midcap 150

(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))

** Brokerage Motilal Oswal sees Cummins India CUMM.NS "well positioned" to encash on strong demand of diesel generator sets after tighter emission norms

** CUMM rose as much as ~2% in the day

** Transition to CPCB IV+ emission norms, part of the government's efforts to reduce pollution, has kept demand strong "contrary to expectations" - note

** Adds powergen segment will be driven by strong demand and pricing gains in FY25; strong construction cycle to help industrial segment

** Brokerage maintains "buy" rating, TP 4,300 rupees

** Co, on an avg, rated "hold", median TP 3,500 rupees - LSEG

** Rivals Thermax THMX.NS flat, ABB India ABB.NS and Siemens SIEM.NS drop 2.4% and 1.4% respectively

** YTD CUMM has surged 94%

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))

Aug 13 (Reuters) - Cummins India Ltd CUMM.NS:

• CUMMINS INDIA LTD - APPOINTS SHVETA ARYA AS MANAGING DIRECTOR

Source text for Eikon: ID:nBSE4G4fXc

Further company coverage: CUMM.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Cummins India CUMM.NS up 8% to 3,803.9 rupees

** Stock eyes best day since early Feb.

** The power generator maker's Q1 profit surged 31% on strong domestic demand

** Over 2.4 mln shares traded, 2.6x the 30-day avg

** Analysts' avg rating on stock is "Hold", median PT is 3,235 rupees, an 8% discount on last close, per LSEG data

** Including session's gains, stock is up ~94% YTD vs ~23% rise in the Nifty mid-cap index .NIFMDCP100

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))