Stock market analyst Rajesh Jain has maintained 'hold' rating on Cummins India Ltd stock to achieve a target of Rs 1000.

According to analyst, the said target can be achieved in a period of 12-18 months.

Today, the stock of the company opened at Rs 723 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 792.70 and a low of Rs 330 on BSE.

Current EPS & P/E ratio stood at 24.96 and 29.10 respectively.

Engine manufacturer Cummins India Ltd is all set to make an investment of Rs 750 crore by 2012 with the aim to strengthen its capacity at its site in Maharashtra.

The company has decided to establish around six manufacturing plants in Phaltan in Satara region of Maharashtra.

Mr. Dinesh Castellino, Vice President-legal and company secretary made this declaration.

Cummins India, a division of US-based Cummins Inc is depending upon strong domestic demand for diesel as well as gas engines.

The company has recorded a jump of 57% in its net profit for April-June period, which stood at Rs 140 crore.

Auto major Cummins India will start construction soon on a new facility for export in the UK, Europe and USA, senior officials from the company told Business Standard.