Schaeffler India shares gained 3% during the intra-day session on 11 September after the company acquired a 100% stake in KRSV Innovation Auto Solutions.

In August, the company announced the acquisition of KSRV Innovation Auto Solution or Koovers for Rs 142 crore.

Koovers is a B2B company based in Bengaluru that offers spare parts solutions in the Indian aftermarket workshops.

The company can build up a strong online platform in the automotive aftermarket space through this acquisition.

In the last 5 trading sessions, the company’s shares have gained more than 13%, and over the past 6 months, the shares have gained more than 31%.

At 12:01 pm, the shares of Schaeffler were trading at Rs 3,691.95 or 3.25% above its previous close on NSE.