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07-Dec2012

SKF India edges higher on the buzz of inking pact with Audi

SKF India is currently trading at Rs 645.00, up by 1.35 points or 0.21% from its previous closing of Rs 643.65 on the BSE.

The scrip opened at Rs 664.00 and has touched a high and low of Rs 664.00 and Rs 645.00 respectively. So far 72 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 728.00 on 03-Apr-2012 and a 52 week low of Rs 535.45 on 27-Dec-2011.

Last one week high and low of the scrip stood at Rs 647.00 and Rs 629.00 respectively. The current market cap of the company is Rs 3401.25 crore.

The promoters holding in the company stood at 53.58% while Institutions and Non-Institutions held 32.31% and 14.11% respectively.

SKF has reportedly inked pact with Audi for providing its components for use on a range of vehicle models. The contract, which is estimated to the worth of nearly SEK 1 billion, includes the delivery of four different versions of wheel bearing units for the wheel-ends and a range of bearings for the new double clutch transmission. Deliveries would begin in 2013 from SKF factories in Spain and Italy.

SKF's wheel bearing units include an active ABS system and the flexible design that provide a cost-effective solution for a range of vehicles, using Audi's new modular MLB Evo-platform. Further, the company's transmission and clutch bearings are designed to meet Audi specific double clutch transmission needs.

SKF India provides products, solutions and services in the areas of rolling bearings, seals, mechatronics, services and lubrications systems. The company manufactures different types of bearings, seals including roller bearings, bearing units, housings, industrial and hydraulic seals, linear motion products, high precision bearing, spindles, electrical actuators, actuation systems and rolling bearing steel which are used in cars and truck wheels.


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