Shares of Schaeffler India jumped 21.67% in the past seven trading sessions to end at Rs 3,712.80 yesterday from its recent closing low of Rs 3,051.55 on 31 August 2023.

On the BSE, 19,179 shares were traded in the counter so far compared with average daily volumes of 8,252 shares in the past two weeks. The stock hit a high of Rs 3,718.45 and a low of Rs 3,366.95 so far during the day.

The stock hit a 52-week high of Rs 3968.75 on 15 September 202. The stock hit a 52-week low of Rs 2554.75 on 30 January 2023.

The stock had outperformed the market over the past one month, advancing 13.55% compared with 2.89% increase in the Sensex.

The counter had also outperformed the market in past three months, rising 9% as against Sensex's 7.15% jump.

However, the scrip had underperformed the market in past one year, declining 3.98% as against Sensex's 11.8% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 60.601. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 3,120.99, 3,033.25 and 2,915.96, respectively. These levels will act as crucial support zones in near term.

Schaeffler is among the largest industrial and automotive supplier with 3 well known product brands (LuK, INA and FAG), 4 manufacturing plants and 8 sales offices. Schaeffler also has the largest after-market networks serving the industrial and automotive customers.

The company's net profit for Q2 CY2023 was Rs 237.3 crore, which is higher by 5.1% as compared with PAT of Rs 225.8 crore recorded in Q2 CY2022. Revenue from operations for Q2 CY2023 was Rs 1,829.1 crore, higher by 4.6% than the corresponding quarter of 2022.