SKF India Ltd Share Price – NSE  / BSE

Bearings, Small Cap

SKF India will hold a meeting of the Board of Directors of the Company on 13 November 2024

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Astrazeneca Pharma India Ltd, GAIL (India) Ltd, Jindal Steel & Power Ltd, Mahindra & Mahindra Financial Services Ltd are among the other stocks to see a surge in volumes on BSE today, 24 September 2024.

SKF India Ltd clocked volume of 81867 shares by 10:48 IST on BSE, a 31.49 times surge over two-week average daily volume of 2600 shares. The stock gained 0.08% to Rs.5,385.25. Volumes stood at 1318 shares in the last session.

Astrazeneca Pharma India Ltd witnessed volume of 14903 shares by 10:48 IST on BSE, a 22.27 times surge over two-week average daily volume of 669 shares. The stock increased 11.23% to Rs.7,504.05. Volumes stood at 602 shares in the last session.

GAIL (India) Ltd witnessed volume of 34.63 lakh shares by 10:48 IST on BSE, a 8.05 times surge over two-week average daily volume of 4.30 lakh shares. The stock increased 0.11% to Rs.220.60. Volumes stood at 7.09 lakh shares in the last session.

Jindal Steel & Power Ltd clocked volume of 12.68 lakh shares by 10:48 IST on BSE, a 6.14 times surge over two-week average daily volume of 2.06 lakh shares. The stock gained 2.30% to Rs.1,045.00. Volumes stood at 31842 shares in the last session.

Mahindra & Mahindra Financial Services Ltd witnessed volume of 3.58 lakh shares by 10:48 IST on BSE, a 4.18 times surge over two-week average daily volume of 85751 shares. The stock dropped 1.11% to Rs.328.35. Volumes stood at 99077 shares in the last session.

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The Board of Directors of SKF has decided to initiate a separation of its Automotive business with the objective of a separate listing on Nasdaq Stockholm through a Lex Asea distribution to its shareholders. The intention is to list the Automotive business on Nasdaq Stockholm during first half of 2026.

Given different business dynamics, end markets and success drivers for the Industrial and Automotive business segments, a separation will facilitate a clearer focus on distinct opportunities to enhance customer value, accelerate growth as well as improve efficiency and competitiveness.

A separation would increase Automotive's ability to adapt faster to transforming global automotive markets, by allowing it to make independent business decisions and investments. A more tailored, leaner Automotive business model will further strengthen its competitive advantage and capture additional profitable growth opportunities, while at the same time accelerating its profitability transformation.

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Net profit of SKF India rose 2.92% to Rs 158.93 crore in the quarter ended June 2024 as against Rs 154.42 crore during the previous quarter ended June 2023. Sales rose 4.93% to Rs 1206.22 crore in the quarter ended June 2024 as against Rs 1149.60 crore during the previous quarter ended June 2023.

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