Schaeffler India's Stock Sees Decline, But Remains Strong Player in Bearings Industry

Schaeffler India, a leading manufacturer of bearings, has recently seen a decline in its stock price. On October 24, 2024, the company's stock lost -4.82%, underperforming the sector by -1.07%. The stock touched an intraday low of Rs 3755.7, a decrease of -2.91%.

According to MarketsMOJO, a financial analysis platform, the stock's current call is 'Hold'. The company's stock price is currently higher than its 200-day moving average, but lower than its 5-day, 20-day, 50-day, and 100-day moving averages.

In comparison to the overall market performance, Schaeffler India's stock has underperformed. On the same day, the Sensex, India's benchmark index, had a performance of -0.10%, while Schaeffler India's performance was -4.86%. Over the past month, the company's stock has also seen a decline of -7.05%, while the Sensex's performance was -5.79%.

Despite the recent decline in stock price, Schaeffler India remains a largecap company in the bearings industry. The company has a strong reputation for its high-quality products and is a key player in the Indian market. Investors should keep an eye on the company's performance in the coming months to see if it can bounce back from its recent dip.