SKF India rises on nod to demerge industrial, automotive businesses
09/10/2024 10:13
** Shares of SKF India SKFB.NS gain as much as 6.3% to
5,492.60 rupees, its biggest intraday rise since June 14
** Co approves to demerge its automotive and industrial
businesses; details of the demerger to be decided later
** Move follows parent AB SKF's SKFb.ST decision to
separately list automotive business of the group to accelerate
growth, improve efficiency
** SKF India last up 4%, taking YTD gains to 17% vs 22% rise
in Nifty 500 index .NIFTY500
(Reporting by Nishit Navin in Bengaluru)
((nishit.navin@thomsonreuters.com;))