Schaeffler

Coal India, Tata Elxsi, Schaeffler and ELGI Equipments have witnessed a 'Death Cross' pattern on the daily chart; hence are likely to face downward pressure going ahead.

Schaeffler India on Wednesday said its consolidated Profit After Tax grew marginally to Rs 236.41 crore in the July-September quarter of this year, from Rs 232.76 crore a year ago. Revenue from operations during the reporting quarter, however, rose 14 per cent to Rs 2,116.3 crore in the third quarter of 2024, from Rs 1,853.6 crore in the year-ago period, the company said in a regulatory filing. Schaeffler India follows the January-December financial year. "Our domestic business continued its growth momentum as we progressed into the second half of the year. "Despite a challenging market environment, the automotive technologies and bearings and industrial solutions business showed an upward trend," Harsha Kadam, Managing Director and CEO at Schaeffler India said in a statement. The sustained quality of earnings reflects the company's constant focus on cost management and realization of financial and operating margins, he added.

Recently, PNB has found a support level, forming a bottom around the Rs 114-116 range. This suggests that stock has likely reached a point where selling pressure is reducing & buyers are stepping in.

It is recommended to 'buy' Nykaa stocks within the price range of Rs 180 to Rs 185

The uptick in stock price came after the company posted a strong set of second quarter of calendar year 2024 (Q2CY24) results.

The company posted a PAT of Rs 237.28 crore in the year-ago period, the company said in a regulatory filing

The company on Tuesday said that it has launched planetary gear system (PGS) from Schaeffler's Hosur Plant

Still, the poor monsoons earlier in the quarter had made commercial vehicles such as tractors less affordable for India's rural population, they said

Founded in 2016, Koovers is a B2B e-commerce platform specializing in supplying auto parts to independent workshops and the aftermarket sector

Schaeffler India Ltd on Monday said it will fully acquire KRSV Innovative Auto Solutions Pvt Ltd, an automotive aftermarket spare parts platform, for Rs 142.4 crore. Bengaluru-based KRSV Innovative Auto Solutions, which operates under the brand Koovers, offers spare parts solutions to Indian aftermarket workshops via a B-to-B e-commerce platform. "This acquisition presents an ideal synergy for Schaeffler's future after sales activities in India. It will be a key enabler for the aftermarket ecosystem, including distribution partners and help to play an important role in the fast growing and evolving aftermarket digital landscape," Schaeffler India said in a statement. Under the share purchase agreement, Schaeffler India will acquire 100 per cent shares of KRSV Innovative Auto Solutions for a consideration of approximately Rs 142.4 crore, it added. "The transaction would be completed in the third quarter of CY 2023, subject to customary closing conditions. This acquisition will be fu

German industrial and automotive-component supplier Schaeffler on Wednesday announced the inauguration of a new manufacturing unit at its Savli (Vadodara) facility in Gujarat. The new unit will add additional capacities of over 10,000 sq m of production space, to the existing plant, and cater to the growing demand in the wind, heavy industries, and railway sectors, the company said. The expansion of the Savli plant's production capacity is a vital step towards driving localisation strategy and meeting the growing demands of the market, it stated. The capacity expansion will enable the plant to manufacture spherical roller bearings (SRB) and spherical rollers, while also expanding its heat treatment capabilities, it said. Schaeffler India's Savli plant currently carries out quality related work, such as heat treatment of raw material, face and outer outside diameter grinding and honing (precision grinding) the inner and outer rings of rolling bearings. The various products produced

Industrial and automotive parts maker Schaeffler India on Thursday announced a 21 per cent growth in net profit at Rs 231 crore in the fourth quarter of 2022. The company had posted a net profit of Rs 190.64 crore in the same quarter of the preceding calender year, according to a regulatory filing. Schaeffler India follows the calendar year (January-December period) for financial reporting. The revenue from operations for the quarter under review stood at Rs 1,794.70 crore, up 17.8 per cent from Rs 1,523.22 crore in the same quarter of 2021. During the year 2022, the company's net profit stood at Rs 879.20 crore from Rs 629.12 crore in the year earlier, registering a growth of 40 per cent, as per the filing. Total revenue from operations during the reporting year was Rs 6,867.42 crore as compared to Rs 5,560.51 crore in 2021. "Our quarterly growth momentum continued on the back of favourable sales mix and our emphasis on deploying sustainable countermeasures to enable a strong qu

CLOSING BELL: The BSE Sensex hit a fresh calendear year high at 61,682, before forfeiting most gains at close. Midcap, Smallcap indices gained nearly a per cent Thursday.

Ball-bearing maker expects gains on margin front in the second half of FY23

Bharat Dynamics, JK Paper and Hindustan Aeronautics have surged over 100 per cent, while Elgi Equipments and Schaeffler India are just shy from doubling the investor's wealth so far in 2022.

Shares of Schaeffler India soared 10 per cent to hit a new high in Monday's intra-day trade. The stock has surged 16 per cent in the last four days.

In Q1CY22, the company's profit after tax jumped 48 per cent year-on-year(yoy) to Rs 207 crore from Rs 140 crore in Q1CY21.

Higher content per vehicle, steady aftermarket and exports are growth drivers

Localisation, industrial segment to offset some pressure

However, the CCI added it had decided not to impose a penalty, saying the "ends of justice would be met if the parties cease such cartel behaviour and desist from indulging in it".