Analysts gung ho on this midcap even as top brass flags Covid risks

Analysts gung ho on this midcap even as top brass flags Covid risks
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NEW DELHI:
Schaeffler India's March quarter earnings came in better than analyst estimates, as it managed to offset the pressure of rising commodity prices through cost discipline and operating leverage. Sales got a boost from demand recovery in both automotive and industrial segments .
Managing Director Harsha Kadam sounded caution on the volatile external scenario. But analysts are unfazed. Their price targets suggest up to 22 per cent potential upside for the stock.
On Friday, the scrip of the midcap firm traded at Rs 5,302 apiece, up marginally in a depressed market. At this price, the stock trades below its historical average P/E of 28.6 times.

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