The shares of Cummins India Limited started the session on Thursday at a strong note as it reached a new 52-week high of Rs 1,471.25. The Global power solutions provider came to the limelight after the company in collaboration with Tecnimont Pvt ltd will help GAIL (India) set up a proton exchange membrane electrolyzer for the public sector natural gas company at Vijaipur in Madhya Pradesh.
The facility is set to be one of the largest in India with an expected production of 4.3 tonnes of green hydrogen per day, equivalent to 10 MW of electrical power generation.
Tecnimont Private Limited (TCMPL), an engineering, procurement, and construction firm, is the Indian subsidiary of Maire Tecnimont Group.
Cummins India Ltd, part of the Cummins Inc. Group USA. The company designs, manufactures, distributes, and services diesel and alternative fuel engines and alternative-fueled power generators as well as related components and technology.
The share of the company has risen from Rs 567 in December 2020 to the current levels logging a multibagger return of 155 percent in 2 years. In the span of a year, the stock has zoomed by 53 percent. In the span of six months, the stock has delivered a return of 43 percent.
Maharatna GAIL (India) Limited has a variety of operations in trading, transmission, LPG production and transmission, LNG regasification, petrochemicals, city gas, E&P, and other areas of the natural gas value chain. The shares of the company were trading marginally lower at Rs 92 levels.
Written by Anoushka Roy
