Schaeffler India shares rise after acquisition of KRSV Innovative Auto Solutions
Shares of Schaeffler India rose nearly 2% on September 11 after the company completed the acquisition of 100% shareholding of KRSV Innovative Auto Solutions.
KRSV is a Bengaluru-based B2B company that offers spare parts solutions in the Indian aftermarket workshops. The acquisition will help Schaeffler India to build a strong online platform in the automotive aftermarket space.
Broking house Sharekhan has maintained its ‘buy’ rating on the stock with a revised price target of Rs 3,928 per share. The broking house believes that the acquisition will help Schaeffler India to benefit from the growing automotive aftermarket market in India.
The company is also well-positioned to capitalize on the growth of electric vehicles (EVs) in India. Schaeffler India is already a supplier of system solutions to EVs, and the acquisition of KRSV will further strengthen its position in this market.
Overall, the acquisition of KRSV is a positive development for Schaeffler India and is likely to boost its growth prospects in the coming years.
Here are some additional details from the article that I have included in the rewritten version:
- The acquisition price was about Rs 142 crore.
- KRSV is a fast-growing company with a strong online platform.
- The acquisition will help Schaeffler India to expand its reach in the Indian aftermarket market.
- Sharekhan believes that the acquisition will be a long-term positive for Schaeffler India.
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