SKF India shares surged nearly 2% following the company’s board approval of a Scheme of Arrangement for demerging its Industrial Business. The meeting, held on December 26, 2024, finalized the plan to transfer the Industrial Business to SKF Industrial, a wholly-owned subsidiary.
The proposed transaction, executed under Sections 230-232 of the Companies Act, 2013, aims to streamline operations and enhance value for shareholders and creditors. This strategic move underscores SKF India’s commitment to driving operational efficiency and fostering growth in its core businesses.
SKF India shares opened at ₹4,560.00, with a high of ₹4,645.25 and a low of ₹4,485.40. The stock’s 52-week high is ₹7,350.00, while its 52-week low stands at ₹4,024.50.
As of 9:30 a.m., SKF India shares were trading 0.62% higher at Rs 4,472.55 on the NSE.
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