Citi starts Cummins India with 8216;sell8217;

Citi started Cummins India with a 8216;sell8217; rating and a price target of Rs 681 citing the slowdown in infrastructure development and rising interest rates,which could impat growth. 8220;High pig iron and copper prices will put increasing pressure on Cummins India8217;s EBITDA margins,8221; Citi said in a note. The stock has outperformed the benchmark sensitive index after a 138 per cent rise over the last three years and there could be limited upside,the Wall Street bank added. At 12.13 p.m.,the stock was at Rs 671.55,down 1.71 per cent.