CUMMINSIND

Technical View- As seen on the daily chart, the stock is currently in a strong uptrend, trading nearly 2% higher today. After a brief correction phase earlier this week, the stock has been consistently holding above its 14-day EMA for the last two sessions. On June 24, it made a low of 3282.70, followed by a low of 3278.50 yesterday, closing at 3318.90. Today, the stock opened at 3319.90, made a low of 3383.40, and is currently trading around 3383.50, showing strong bullish momentum. Fundamentally, despite a 1.7% YoY decline in net profit to ₹530 crore for Q4 FY24-25, the company reported a healthy 6.4% revenue growth to ₹2,414 crore. The stock continues to hold above its 55-day and 200-day EMAs for over a year now, reflecting long-term strength. Notably, the stock had reversed from a low of 1659.10 on November 1, 2023, holding its strong support zone firmly. Recently, the company also launched its Battery Energy Storage System (BESS), aimed at reducing carbon emissions and improving solar and wind energy integration with the grid, which has further supported positive sentiment. In the short term, 3290 remains a crucial support level, and if the stock sustains its momentum, it may soon test levels of 3500-3550.