Bosch gains on plans to rope in JV partner for starter motors and generators biz

Bosch rose 1.67% to Rs 21,150 at 9:40 IST on BSE after the company said that the Bosch Group plans to seek a partner for a joint venture or a buyer for its starter motors and generators division.

The announcement was made after market hours yesterday, 9 June 2015.

Meanwhile, the S&P BSE Sensex was up 227.51 points or 0.86% at 26,708.76.

On BSE, so far 516 shares were traded in the counter as against average daily volume of 3,314 shares in the past two weeks.

The stock hit a high of Rs 21,330 and a low of Rs 20,866.20 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 11,700 on 17 June 2014.

Bosch Group plans to seek a partner for a joint venture or a buyer for its starter motors and generators division. Bosch said that the company is convinced that this can further improve the division's growth prospects in a market characterized by tough competition and cost pressure.

The division develops and manufactures starters and alternators for passenger cars and commercial vehicles which help reduce fuel consumption, Bosch said.

Bosch's net profit fell 11.9% to Rs 287.45 crore on 3.4% decline in net sales to Rs 2348.92 crore in the quarter ended 31 March 2015 over the quarter ended 31 March 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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