Schaeffler India surges on inaugurating fifth manufacturing facility in Tamil Nadu
Schaeffler India is currently trading at Rs. 4119.50, up by 110.70 points or 2.76% from its previous closing of Rs. 4008.80 on the BSE.
The scrip opened at Rs. 4040.00 and has touched a high and low of Rs. 4130.05 and Rs. 4031.00 respectively. So far 2860 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4950.00 on 18-Jun-2024 and a 52 week low of Rs. 2836.55 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 4130.05 and Rs. 3965.50 respectively. The current market cap of the company is Rs. 64426.81 crore.
The promoters holding in the company stood at 74.13%, while Institutions and Non-Institutions held 20.54% and 5.32% respectively.
Schaeffler India has inaugurated its fifth manufacturing facility in Shoolagiri, Tamil Nadu, India. Dedicated to producing powertrain and chassis components and futuristic technologies, the facility at Shoolagiri marks a significant milestone in the company’s expansion strategy.
As part of Schaeffler India’s strategy to address growing market demands within the automotive industry, the 16,500 sqm manufacturing facility will serve as a hub for production and expansion of conventional and electrified powertrain technologies, including planetary gear systems, hybrid transmission components, and new emerging innovations primarily catering to the Indian market. With the new manufacturing facility, the company also aims to increase its transmission component capacity significantly. It will also serve as a key contributor to the company’s expansion strategy for new products and advanced technologies, supporting its long-term global growth objectives.
The inauguration of the Shoolagiri facility joins Schaeffler India’s four manufacturing facilities in the country and its three research and development centers. As compared to the initial commitment of Rs 1,500 crore, Schaeffler India has invested Rs 1,700 crore over last three years (from 2022 to 2024) to expand its local capabilities in India. This includes the expansion of new product lines for powertrain solutions, e-mobility solutions as well as large and medium-sized bearings for industrial applications.
Schaeffler India offers innovative technologies, products, and solutions for electric mobility, CO2 -efficient drives, chassis solutions and renewable energies.
