Bosch gains after announcing plans to consider share buyback proposal

Bosch gained 4.69% to Rs 22,534.60 at 10:00 IST on BSE after the company said that a meeting of its board of directors will be held on 1 July 2016, to consider a proposal for buyback of the company's equity shares.

The announcement was made after market hours yesterday, 28 June 2016.

Meanwhile, the S&P BSE Sensex was up 154.76 points or 0.58% at 26,677.12.

On BSE, so far 1,484 shares were traded in the counter as against average daily volume of 1,342 shares in the past one quarter. The stock hit a high of Rs 22,596 and a low of Rs 22,103 so far during the day. The stock had hit a 52-week high of Rs 26,701 on 11 August 2015. The stock had hit a 52-week low of Rs 15,752.65 on 12 February 2016. The stock had underperformed the market over the past one month till 28 June 2016, sliding 1.92% compared with Sensex's 0.48% fall. The scrip had also underperformed the market in past one quarter, gaining 4.95% as against Sensex's 6.24% gains.

The large-cap company has equity capital of Rs 31.40 crore. Face value per share is Rs 10.

Bosch's net profit rose 30.8% to Rs 376.04 crore on 12.2% growth in net sales to Rs 2635.37 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015.

In India, Bosch is a leading supplier of technology and services in the areas of automotive and industrial technology, consumer goods and building technology. Additionally, Bosch also has in India, the largest development centre, outside Germany, for end-to-end engineering and technology solutions. Bosch is the flagship company of the Bosch Group.

Powered by Capital Market - Live News