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Schaeffler India gains on launching locally manufactured Current Insulated Bearing at IREE 2019

Schaeffler India is currently trading at Rs. 4013.95, up by 10.50 points or 0.26% from its previous closing of Rs. 4003.45 on the BSE.

The scrip opened at Rs. 4000.00 and has touched a high and low of Rs. 4013.95 and Rs. 4000.00 respectively. So far 43 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 5836.30 on 14-Jan-2019 and a 52 week low of Rs. 3841.00 on 29-Jul-2019.

Last one week high and low of the scrip stood at Rs. 4100.00 and Rs. 3969.00 respectively. The current market cap of the company is Rs. 12504.29 crore.

The promoters holding in the company stood at 74.13%, while Institutions and Non-Institutions held 19.33% and 6.55% respectively.

Schaeffler India has launched locally manufactured Current Insulated Bearings at the IREE 2019. This sets a new precedent for the industry as Schaeffler India became the first and only manufacturer in India to develop Current Insulated Bearing locally as the company introduced the product at the IREE 2019.

Schaeffler India has its presence in automotive and across all core industrial segments.

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