Cummins India slides after MD resigns

Cummins India fell 1.61% to Rs 740 at 10:46 IST on BSE after the company said Sandeep Sinha has resigned from his role as managing director.

The announcement was made during trading hours today, 16 July 2019.

Meanwhile, S&P BSE Sensex was up 112.28 points or 0.29% at 39,008.99.

On BSE, 27,000 shares were traded in Cummins India counter, compared to a 2-week average of 12,000 shares. The share price hit an intraday high of Rs 750 and an intraday low of Rs 712.50. It hit a 52-week high of Rs 885 on 16 January 2019 and a 52-week low of Rs 611.75 on 17 July 2018.

Cummins India announced that Sandeep Sinha, managing director of Cummins India and vice president of Cummins India ABO, has resigned to pursue business interests outside of Cummins. Sinha joined Cummins in 2004 as a corporate indirect purchasing manager.

Cummins India's net profit fell 12.6% to Rs 140.92 crore on a 9% rise in net sales to Rs 1,314.40 crore in Q4 March 2019 over Q4 March 2018.

Cummins India designs, manufactures, distributes, and services engines and related technologies in India.

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