SKF India soars on inking contracts with two pulp & paper manufacturers
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SKF India is currently trading at Rs. 4578.05, up by 78.25 points or 1.74% from its previous closing of Rs. 4499.80 on the BSE.
The scrip opened at Rs. 4529.55 and has touched a high and low of Rs. 4600.00 and Rs. 4528.95 respectively. So far 642 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5170.85 on 22-Nov-2022 and a 52 week low of Rs. 2984.40 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 4600.00 and Rs. 4406.75 respectively. The current market cap of the company is Rs. 22667.06 crore.
The promoters holding in the company stood at 52.58%, while Institutions and Non-Institutions held 35.38% and 12.05% respectively.
SKF India has signed multi-year performance-based contracts with two of India’s leading pulp & paper manufacturers - Mehali Papers and Urvashi Pulp and Paper Mills. These agreements will help these companies improve productivity, reduce unplanned downtime, and increase profitability.
These performance-based contracts are a part of the Rotating Equipment Performance (REP) offering, through which customers can maximize reliability and output from machines and production processes, while driving down the total cost of ownership. As part of the agreement, SKF India will provide a comprehensive range of products including bearings, lubrication systems, onsite vibration analysis, dynamic balancing and alignment, connected condition monitoring units as well as remote diagnostic services and onsite training programs.
SKF India is a leading global supplier of rolling bearing and seals. The company provides products, solutions and services in the areas of rolling bearings, seals, mechatronics, services and lubrications systems.
