SKF India Shares Hit Six-Month High After Q4 Profit Beats Estimates

Shares of the company rose as much as 11.56% to Rs 5,100 apiece, the highest level since Nov. 8. It pared gains to trade 7.19% higher at Rs 4,899.90 apiece as of 11:27 a.m. This compares to a 0.76% decline in the NSE Nifty 50 Index.

The stock has risen 6.45% on a year-to-date basis and 10.91% in the last 12 months. Total traded volume so far in the day stood at 13.67 times its 30-day average. The relative strength index was at 66.96.

Out of the 12 analysts tracking the company, nine maintain a ‘buy’ rating and three recommend a ‘hold’, according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.6%.

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