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Schaeffler India set to announce Q2 results, shares fall 2%
Schaeffler India shares dropped over 2% on Friday, just as the company is set to reveal its latest quarterly numbers.
Even with this dip, Schaeffler has been on a solid growth streak lately.
Shares of Schaeffler India
If you're watching the markets, it's worth noting that Schaeffler's revenue and profit both jumped compared to last year—plus, they have zero debt and paid out a ₹28 per share dividend in February.
Still, investors seem cautious right now.
Director's resignation
Recent news—like the sudden resignation of Independent Director Amit Kalyani earlier this week and today's board meeting for results—has made some investors nervous, leading to early market jitters despite the company's strong track record.