Shares of Cummins India falls as parent cuts guidance, Latest Stock Price
Shares of Cummins India are down on profit booking as sentiment turned bearish after its parent company, Cummins Inc., cut its full-year sales forecast.
US-based Cummins Inc. plunged 10 percent in trade yesterday after it cut global revenue guidance for 2012 on account of a slowdown in US orders from truck and power generation customers, strong dollar and softer demand in emerging markets. The company said demand in Brazil, India and China are not improving as expected.
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