Introduction:
Auto ancillary stock has approved a demerger scheme to separate its industrial and automotive businesses. This strategic move aims to streamline operations, create focused listed entities, and align with growth objectives, subject to regulatory and shareholder approvals.
Share Price movement of SKF India:
On December 26, 2024, SKF India opened at ₹4,560.00, reaching an intraday high of ₹4,645.25 and a low of ₹4,434.25. Currently the stock is trading at ₹4,541.95, up 2.18% from its previous close of ₹4,445.10, with a market cap of ₹22,474.00 crore.
SKF India share price rise:
SKF India Limited has approved a Scheme of Arrangement to demerge its Industrial Business into SKF India (Industrial) Limited, a wholly owned subsidiary. The move aims to streamline operations and create two listed entities focused on Industrial and Automotive businesses.
The demerger is subject to approvals from regulatory authorities, including SEBI, BSE, NSE, NCLT, and shareholder and creditor consents. The resulting entities will have mirror shareholding, enhancing operational efficiency and market focus.
Details of the scheme and related documents will be available on SKF India’s website after submission to stock exchanges. This strategic move aligns with the company’s growth objectives, creating distinct entities to cater to industrial and automotive markets.
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Recent news About SKF India :
On November 13, 2024, the company reported revenue of ₹1,206.2 crore for Q2 FY2024-25, up from ₹1,149.6 crore in the same quarter the previous year, indicating steady growth.
Stock performance of SKF India for Period of 1 week, 6 months and 1 year:
SKF India’s stock performance over the past periods reflects a decline. Over one week, it dropped by 2.03%, showing short-term weakness. In six months, the stock fell significantly by 31.3%, while over one year, it experienced a decline of 2.46%.
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Shareholding pattern of SKF India:
All values in % | Sep-24 | Jun-24 | Mar-24 |
Promoters | 52.58 | 52.58 | 52.58 |
FII | 8.25 | 7.93 | 6.8 |
DII | 27.32 | 28.12 | 29 |
Retail & others | 11.9 | 11.4 | 11.7 |
About SKF India:
SKF India, a leading auto ancillary company, specializes in manufacturing bearings, seals, and lubrication systems. With a strong focus on innovation and quality, it caters to industrial and automotive sectors, delivering solutions that enhance operational efficiency and performance.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.