Shares of a company engaged in manufacturing anti-friction bearings, components, accessories and mechanical power transmission products are in focus during Monday’s trading session after announcing the setting up of a new manufacturing facility in Bharuch, Gujarat, with an investment of ~Rs. 700 crores.
With a market cap of Rs. 24,012.8 crores, at 11:58 a.m., the shares of Timken India Limited were trading in the red at Rs. 3,192.4, down by nearly 1.5 percent, as compared to its previous closing price of Rs. 3,241.9.
What’s the news:
Timken India announced the setting up of a new manufacturing facility at Bharuch, Gujarat, to manufacture Spherical Roller Bearings, Cylindrical Roller Bearings and related components.
According to the latest regulatory filings with the stock exchanges, the company plans to invest around Rs. 700 crores in the project, with commercial production expected to begin in Q4 FY25, specifically between January and March 2025.
Financials:
The company reported a growth in revenue from operations, experiencing a year-on-year rise of nearly 10.4 percent, increasing from Rs. 682 crores in Q2 FY24 to Rs. 753 crores in Q2 FY25.
In contrast, during the same period, the company’s net profit decreased from Rs. 93 crores to Rs. 90 crores, representing a marginal decline of around 3.2 percent YoY.
Also read….
Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 51.05 percent stake in the company, Foreign Institutional Investors (FII) hold a 13.14 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold an 11.02 percent and 24.8 percent stake in Timken India, respectively.
Stock Performance:
The stock has delivered positive returns of nearly 8.2 percent in one year, but around 19 percent of negative returns in the last six months. So far in 2024, the shares of Timken India have given negative returns of about 1.2 percent.
About the company:
Incorporated in 1987, Timken India Limited is engaged in the business of manufacturing, distributing and sales of anti-friction bearings primarily tapered roller bearings, other roller bearings, components, accessories and mechanical power transmission products for a diverse customer base.
The company also provides maintenance contracts and refurbishment services. Its manufacturing plants are located at Jamshedpur (Jharkhand) and Bharuch (Gujarat) and distribution centres are located in various parts of the country.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!
