Schaeffler India surges 6%; hits new high on strong March quarter results

In Q1CY22, the company's profit after tax jumped 48 per cent year-on-year(yoy) to Rs 207 crore from Rs 140 crore in Q1CY21.

Shares of Schaeffler India hit a new high of Rs 2,226, surging 6 per cent on the BSE in Wednesday’s otherwise weak market after the company reported a strong operational performance in the March quarter (Q1CY22).  At 12:27 PM, the stock was trading 2.5 per cent higher at Rs 2,152, as against a 0.86 per cent decline in the S&P BSE Sensex.

The stock of the industrial and automotive supplier has rallied 50 per cent in the past six months, as compared to a 7 per cent decline in the Sensex. In the last one year, it has more-than-doubled,