SKF India trades with traction on the bourses

SKF India is currently trading at Rs. 1463.95, up by 11.70 points or 0.81% from its previous closing of Rs. 1452.25 on the BSE.

The scrip opened at Rs. 1464.05 and has touched a high and low of Rs. 1480.00 and Rs. 1457.00 respectively. So far 270 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1540.35 on 08-Apr-2015 and a 52 week low of Rs. 1005.15 on 24-Sep-2014.

Last one week high and low of the scrip stood at Rs. 1480.00 and Rs. 1417.00 respectively. The current market cap of the company is Rs. 7729.54 crore.

The promoters holding in the company stood at 53.58% while Institutions and Non-Institutions held 32.07% and 14.35% respectively.

SKF India has launched its flagship CSR program YES-Youth Empowerment at SKF for vocational skill development of underprivileged youth. The program aims at empowering the beneficiaries with the know-how of modern automobile maintenance and servicing skills in order to help them gain employment or become entrepreneurs. The program will train more than 5000 youth in the next five years.

The company has launched this program as part of its CSR initiative, starting with the inauguration of the Pune Centre followed by the Bangalore centre, which is expected to be completely operational by the end of this year. SKF India, with its vision of scaling up the project, will set up a total of five skill development centres across the country in the next five years.

SKF India's YES program, with the chosen implementation partners will prepare the beneficiaries to work at various automotive OEMs, dealer service network and workshops and also impart entrepreneurial skills to enable them to set up their own vehicle service stations in future.

As part of this program, the beneficiaries will undergo six months of rigorous vocational training in automotive two-wheeler & four-wheeler repair as per the Modular Employability Skills (MES) course of Ministry of Employment and Training (Government of India). The six month long program will additionally train students in personality, communication skills, customer service, goal setting, financing and Business Management skills, for holistic development and growth.

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training.