Schneider Electric climbs 13%, hits 52-week high

Shares of Schneider Electric Infrastructure rose nearly 13 per cent to hit a 52-week high at Rs 188.30 on Friday’s trade. The stock recorded its biggest weekly gain since the week ended May 28, 2021.

At 12.48 pm, the stock was trading 12.18 per cent higher at Rs 187 over the last day’s closing of Rs 166.70.

The stock has jumped nearly 52 per cent in the last one month while it has surged about 70 per cent year-to-date.

Earlier on September 6, 2022, the company received approval from its board of directors for enhancing the production capacity of vacuum interrupters and vacuum circuit breakers by setting up a manufacturing unit in Kolkata.

The company had proposed 180k MV Vacuum Interrupters and MV Vacuum Circuit Breakers assembly lines and the proposed assembly line will be added during FY 2023-24 to FY 2027-28. Schneider Electric will invest Rs 138 crore over a period of 3 years for the same.

For the quarter ended June 30 2022, the company reported revenue of Rs 371.48 crore, up 28.91 per cent from the year-ago quarter's revenue of Rs 288.18 crore. The company reported a net profit of Rs 26.53 crore for the latest quarter.

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