Bosch gains after inaugurating new manufacturing facility

Bosch rose 2.26% to Rs 23,239.95 at 12:22 IST on BSE after the company today, 27 August 2015, formally inaugurated its new manufacturing facility at Bidadi, Bengaluru in the State of Karnataka.

The announcement was made during market hours today, 27 August 2015.

Meanwhile, the S&P BSE Sensex was up 327.16 points or 1.27% at 26,041.82

On BSE, so far 749 shares were traded in the counter as against average daily volume of 2,206 shares in the past one quarter.

The stock hit a high of Rs 23,290 and a low of Rs 22,944.50 so far during the day. The stock had hit a record high of Rs 27,989.25 on 20 March 2015. The stock had hit a 52-week low of Rs 14,200 on 16 October 2014.

The stock had underperformed the market over the past one month till 10 August 2015, falling 2.38% compared with the Sensex's 1.59% rise. The scrip had also underperformed the market in past one quarter, sliding 1.63% as against Sensex's 3.68% rise.

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

Bosch said that the company has today, 27 August 2015, formally inaugurated its new manufacturing facility at Bidadi, Bengaluru in the State of Karnataka at a built up area of approximately 38,000 square meters with an investment of around Rs 340 crore.

The construction of the Bidadi plant spans over two phases, with the second phase scheduled to be completed by 2018, Bosch said. This new state-of-the-art manufacturing facility will produce diesel products that were previously manufactured at the Adugodi plant, and would have over 2,600 associates working at the facility, the company said. The new plant in Bidadi will produce common rail pumps & rails in the first phase & conventional fuel injection pumps production will start in the second phase, it added.

Bosch reported 12.1% rise in net profit to Rs 343.74 crore on 8.3% growth in total income to Rs 2664.52 crore in Q1 June 2015 over Q1 June 2014.

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.

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