SKF India Limited up by 20%: Traders Market Update | Espresso

EspressoLogy

Espresso shot of the day – SKF India Ltd up by 20 percent

February 08, 2021
Espresso shot of the day – SKF India Ltd up by 20 percent

SKF INDIA LTD 2420.50  (+20.00 %)  BSE – INE640A01023| 8th FEB 2021

Binge Chart

SKF India Ltd. started its operations in India in 1923 and today provides, industry leading automotive and industrial engineered solutions through its five technology-centric platforms: bearings and units, seals, mechatronics, lubrication solutions and services. Over the years the company has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven engineering company helping customers achieve sustainable and competitive business excellence. SKF's solutions provide sustainable ways for companies across the automotive and industrial sectors to achieve breakthroughs in friction reduction, energy efficiency, and equipment longevity and reliability. With a strong commitment to research-based innovation, SKF India Ltd. offers customised value added solutions that integrate all its five technology platforms.

Recent Drivers

  • SKF India Ltd. posted net profit of Rs 128.11 crorse in the quarter ended December 2020 up by 150.26 % from Rs 51.19 crores during the previous quarter ended December 2019. 
  • Net sales of to Rs 818.72 crores in the quarter ended December 2020 as against Rs 707.34 crores during the previous quarter ended December 2019
  • SKF India Ltd. announced the launch of its e-shop, an online store offering products from the automotive and industrial business for retail and industrial buyers.
  • The company says the process industries, MSME's, traders, retailers, automotive aftermarket retailers, mechanics, and fleet owners will benefit from this wide range of products and solutions.
  • SKF India Ltd. has partnered with IFB Industries Ltd for providing SKF Drum Support Unit specifically for use in front-loading washing machines. The SKF Drum Support Unit is the latest solution from SKF India Ltd. to improve the performance and manufacture of domestic washing machines.
  • With the volume of 3 lakhs pieces to be produced per year at the Bangalore unit of SKF India Ltd., the association aims to introduce an appliance that aims at delivering improved performance, comfort and energy savings.
  • SKF India Ltd. has bagged the prestigious 'Companies with Great Managers' award at the 5th Edition of the 'Great Managers Awards' 2020 held in December 2020
  • In July 2020, SKF India Ltd. paid the special dividend of Rs 130 per share
(Sources: BSE, Business Standard, Economic Times, Business World)

Technical Force *

  • Traded on new 52- week high value 2420.5
  • Touched upper circuit today 2420.50
  • Spurt in volume by more than 13.63 times compares to previous vol. 3 month avg qty – 53,280
  • Stock price has jumped more than 25% in three month low level – 1480, 06 November 20
  • Daily RSI (14) is in overbought territory from 3 periods
  • 52- week high – 2420.50 | 52- week low –1237.50

 Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

3341.37

2827.18

2265.87

1751.68

1190.37

676.18

114.87

-

Fibonacci Pivot

2827.18

2416.34

2162.52

1999.05

1751.68

1504.32

1340.84

1087.01

676.18



Today’s Close

2420.5

SMA

BSE

10 DAY

1900.98

20 DAY

1861.00

50 DAY

1751.54

200 DAY

1581.85


Some Key Ratios (Source: BSE)

Market Cap: 11,966.46 crores

PE:44.61

OPM%: 23.07

ROE%: 20.21

Prev. Close: 2017.10


* Chart And Technical Force data taken from the Binge desktop app.

The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Sharekhan comtrade bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Sharekhan Comtrade Private Limited is under no obligation to update the information in this document from time-to-time.

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.