 "Schaeffler India")
Shares of Schaeffler India, earlier Fag Bearings, spurted 16.4 per cent on expectations of synergy gains from the merger of listed and unlisted entities of Germany-based Schaeffler group, a global supplier of automotive and industrial components. Schaeffler India announced the consolidation of the two unlisted Schaeffler group entities — INA Bearings India and LuK India — with itself after market hours on Wednesday.
The merger of the three firms is expected to create an entity with an annualised CY17 revenue of Rs 4,000 crore and operating profit of Rs 600 crore. Currently, Schaeffler India, a leader in spherical and cylindrical
