Truist Securities analyst Jamie Cook has maintained a Buy rating on Cummins and increased the price target to $901 from the previous $815. The adjustment reflects a revised outlook on the company's stock performance.

Rating and Price Target

The research note reaffirms the positive stance on Cummins, signaling confidence in its future growth trajectory. The new price target of $901 represents a significant increase from the prior target of $815.

Cummins India Limited has fixed Friday, July 17, 2026, as the record date to determine eligible shareholders entitled to receive the final dividend for the financial year 2025-26. The Board of Directors has recommended a payout of ₹46 per equity share, representing 2,300% on the face value of ₹2 each. This dividend is subject to approval by shareholders at the Annual General Meeting (AGM) scheduled for Thursday, August 06, 2026. The company has stated that the dividend will be paid on or before Friday, September 04, 2026, pending approval.

In compliance with SEBI regulations, payment of dividends will be made exclusively through electronic mode to all members holding shares in demat or physical form. Members holding securities in physical mode must update their KYC details, including valid PAN, contact details, bank account information, and specimen signature, to ensure seamless credit of dividends. Shareholders are required to submit Form ISR-1 and ISR-2 to the Registrar and Share Transfer Agent (RTA) to update these details.

The company has notified shareholders that dividend income is taxable in their hands under the Income Tax Act, 2025, and Tax Deducted at Source (TDS) will be applicable. For resident shareholders with a valid PAN, TDS will be deducted at 10% or as notified by the Government of India, while those without a valid PAN or with an invalid PAN will face a deduction of 20%. Non-resident shareholders, including Foreign Portfolio Investors (FPIs), can avail beneficial rates under tax treaties by submitting relevant documents such as the Tax Residency Certificate and Form 41 by July 24, 2026.

Key AGM and Dividend Details