The bearing industry is one of the least-heard industry names of all. However, the products from this industry, bearings, work as a crucial part of various industries like automotive, industrial applications, aerospace, etc., with their usage in a wide range of machinery. A bearing is one of the parts that helps an object to rotate. Today, we will look at some bearing stocks to watch out for in 2024.
1. SKF India
SKF India started its operations in 1923 and provides parts to leading automotive and industrial-engineered solutions. SKF India has five technology-centric platforms: seals, mechatronics, lubrication solutions, and services. The company serves the automotive and industrial sectors sustainably to achieve energy efficiency and reduce friction.
This is one of the most popular bearing stocks in India. Recently, SKF India showcased innovative solutions at Paperex 2023, mainly for the Pulp and Paper Industry.
2. SKP Bearing Industries
SKP Bearing is known for its rolling elements. The company’s product mix includes steel balls, cylindrical rollers, and needle rollers used in textile, automobile, electronics, and other industries. The company also designs customized products based on the client’s needs.
Mrs. Sangita Palshikar, one of the founders of the company, has been honored with a prestigious national award by the Government of India.
- SKP Bearing Share Price as of February 2024: ₹270+
- Market Cap: ₹456.92 Cr
3. Menon Bearings
Menon Bearings manufactures critical engine components like bushes, thrust washers used in the long haul, bearings, heavy-duty diesel engines, aluminum die-casting components, etc. The company has also diversified its business into brakes, axles, transmission, suspension, marine, power generation, etc.
Menon Bearings serves marquee clients like TATA, Mahindra, Suzuki, GM, Honeywell, Kalyani, etc.
4. NRB Bearings
NRB Bearings was founded in 1965 and was the first company to manufacture needle roller bearings in the country. For over 50 years, the company has developed robust bearing technology, and today over 90% of vehicles run on NRB parts in the country.
NRB Bearings is a leader in needle roller bearings and conventional cylindrical roller bearings and has introduced drawn cup bearings. NRB was recognized by the Economic Times for diversity and inclusion in the workplace.
5. Schaeffler India
Schaeffler India’s innovative technology helps make mobility and motion more efficient and sustainable. The company’s product line includes cylindrical roller bearings, ball bearings, wheel bearings, and spherical roller bearings. Schaeffler has four manufacturing plants across the country.
Schaeffler India pioneered Sustainable Mobility Solutions at the 63rd ACMA Annual Session to showcase regulation-compliant automotive solutions along with sustainability.
- Schaeffler India Share Price as of February 2024: ₹2900+
- Market Cap: ₹46,966.10 Cr
While every component industry serves an important purpose, it is vital to look at the final product they are part of along with the market demand for that product.
Conclusion
The bearings industry forms an essential part of the manufacturing industry. Before you invest in bearing stocks online, you should know the industry along with the nature of the companies. To start investing in stocks, open an account with Dhan, one of India’s leading online investment platforms.
