ICICI Securities Shares in Spo...
by
Tanushree Jaiswal
15/05/2024
Indian Market
This small-cap automotive sector stock is one of the top gainers on September 15
5paisa Research Team
14th December 2022 - 07:26 pm
The shares of NRB Bearings Ltd have soared more than 6% on the day.
On September 15, the market is trading in the red. At 11:58 am, the S&P BSE Sensex is trading at 60014.95, 0.55% down on the day. About sectoral performance, Auto is the top gainer, while IT is the top loser for the day. Regarding stock-specific action, NRB Bearings is among the top gainer in BSE group ‘A’.
The shares of NRB Bearings Ltd have soared more than 6% on the day and as of 11:58 am, are trading at Rs 179.95. The stock opened at Rs 171 and so far, has made an intraday high and low of Rs 186 and Rs 171, respectively.
The company manufactures ball and roller bearings, which find use in the automotive sector as well as in the mobility industry. NRB Bearings has been a pioneer in the manufacturing of needle roller bearings in India. NRB bearings are used in more than 90% of the vehicles that run on Indian roads. The company exports its products to 45 countries.
For the latest June quarter, the company’s revenue stood at Rs 236 crore, while the net profit was recorded at Rs 24.46 crore. For the entire FY22, the company recorded revenue at Rs 944 crore, generating a net profit of Rs 75.61 crore. As per the FY22 period ending, the company has an ROE and ROCE of 13.7% and 14.8%, respectively. It also has a healthy dividend yield of 1.01%.
About the shareholding pattern, 49.86% of the stake is owned by the promoters, 21.5% by FIIs, 11.61% by DIIs, and the rest 17.04% by the non-institutional investors.
The company has a market capitalization of Rs 1776 crore and belongs to BSE small cap index. It is currently trading at 17.78x PE.
The stock has a 52-week high and low of Rs 692 and Rs 317, respectively. In the last year, the stock has delivered a return of 22% to its investor.
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