Buy Mid Cap Automobile Stock As Stock Showing Potential To Soar: Sharekhan

Sharekhan has recommended investors to buy mid cap automobile sector stock, Schaeffler India Ltd with target price of Rs 3328 per share. Current market price of Schaeffler India Ltd is Rs 2729.90 per share on BSE. According to the analyst, "Despite headwinds Scheffler is likely to perform in export markets on strategic relocation of capacities." If you buy Schaeffler India shares, you can get potential return of up to 22%. Check details below:

Schaeffler India Ltd Stock Performance: Last trading price of Schaeffler India Ltd is Rs 2729.90 per share with intraday dip of 1.72%. The stock's 52-week high price is Rs 3968.75 per share and the 52-week low price is Rs 1921.85 per share, respectively. The company has a market capitalisation of Rs 42,669.34 crore. The stock gave return of 35% in last 1-year, 170% in last 2-years, and 301% in last 3-years.

Schaeffler India Valuation: According to Sharekhan, "We maintain our Buy rating on Schaeffler India Limited (Schaeffler) with an unchanged PT of Rs. 3,328 in expectation of an uptick in export revenue in the coming period, success in the high-value EV business, and traction in the aftermarket segment."

Schaeffler India About: Schaeffler's (erstwhile FAG Bearings), with four plants and 11 sales offices, has a significant presence in India with three major widely known product brands - FAG, INA, and LuK. The company produces a wide range of ball bearings, cylindrical roller bearings, deep groove balls, spherical roller bearings, and wheel bearings sold under the brand name FAG.

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.