Cummins India shares fall 5% after Managing Director resigns

-

The company said reason for his resignation is to pursue business interests outside of Cummins.




Cummins India shares fell 5 percent intraday on July 16 after Sandeep Sinha resigned as Managing Director of the company.

Sinha also resigned as Vice President of Cummins India ABO, the company in its BSE filing said, adding the reason for his resignation is to pursue business interests outside of Cummins.

Sinha joined Cummins in 2004 as a Corporate Indirect Purchasing Manager. Over his career at Cummins, he held several leadership roles in Corporate Strategy in the USA, New & Recon Parts and Industrial Engine Business in India. Before taking his most recent leadership role, Sinha served as the Chief Operating Officer of Cummins India.


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

The stock was quoting at Rs 743.00, down Rs 9.10, or 1.21 percent on the BSE at 1010 hours IST.



Best Share Market News, Click Here To Get More News - Share Market tips, for 2 Days Free Trial give a missed call @9644405057 and Get Share Market Services.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

11-year data suggests bears control D-Street in September; can bulls defy odds?

-
Image
The Sensex was down 11 per cent in September 2008, 5.4 per cent in 2018 and dropped by 2.1 per cent in the same month in 2011, data from AceEquity shows. Indian markets remained in a bear grip in August and the trend is unlikely to shift towards the bulls with no big triggers expected in September, say experts. The month of September is off to a muted start, with both the Sensex and the Nifty trading below crucial support levels. The Sensex broke below 37,000 and the Nifty 11,000. Anecdotal evidence suggests that the index has given flat to negative returns in September in six of the last 11 years. The index saw a drop of more than 11 percent in September 2008, followed by 2018 when it slipped 5.4 percent, and in 2011 it dropped by 2.1 percent, data from AceEquity shows. Apart from two tall towers witnessed in 2009 and 2010, the gains in September in the 11-year period have not been that inspiring. The index rallied 10.2 percent in 2010, followed by 10.13 pe...
Read more

Oil prices mixed; Brent eases as trade tensions weigh

-
Image
U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $68.84 a barrel by 0309 GMT. WTI fell 1.3 percent on Friday. Oil prices were mixed on Monday with U.S. benchmark WTI nudging higher after four weeks of declines, while Brent began the week lower as the fallout from trade tensions weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $68.84 a barrel by 0309 GMT. WTI fell 1.3 percent on Friday. Brent crude futures fell 5 cents to $74.24 a barrel, after notching up a 1.7 percent weekly increase last week, the first gain in four weeks. The U.S. economy grew at its fastest pace in nearly four years in the second quarter, but trade tensions remain high between Washington and Beijing despite an easing between the United States and the EU. "Concerns around the U.S.-China trade wars continue to weigh on prices, while the halt in Saudi shipments through the Red Sea waterway has seemi...
Read more