Schaeffler India stock increased by 13%
Schaeffler India – The stock of Schaeffler India soared over 13% today after the ball and roller bearing manufacturer reported a 34.61 percent increase in fourth-quarter net earnings.
Today’s session began at a price of Rs 1,708, up 4.7 percent. On the BSE, the stock rose 12.79 percent to an intraday high of Rs 1,840.
Schaeffler India’s stock is now trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
The large-cap stock has risen 3.67 percent since the beginning of the year, giving it a year-to-date gain of 77 percent.
The company’s shares changed traded for a total of 0.21 lakh on the BSE, resulting in a turnover of Rs 3.67 crore.
Sales climbed by 19.58 percent to Rs 1523.22 crore in the fourth quarter of 2020, compared to the previous quarter.
In the latest quarter, total expenses increased 17.29 percent year on year to Rs 1,288.13 crore.
In the fourth quarter of 2020, operating profit climbed by 25% to Rs 287.13 crore, up from Rs 229.07 crore the previous quarter. The full-year net profit for 2021 climbed by 116.21 percent to Rs 629.12 crore, compared to Rs 290.97 crore the previous year.
In India, Schaeffler India is an industrial and automotive supplier. The company manufactures ball and roller bearings. The company’s goods and solutions include automotive technology, automotive aftermarket, industrial, special machinery, and digital products.
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