Bosch rises after fixing record date for buyback of equity shares

Bosch rose 0.46% to Rs 23,780 at 09:44 IST on BSE after the company fixed 6 September 2016 as the record date for the proposed buyback offer of the company.

The announcement was made after market hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was up 69.14 points or 0.25% at 28,129.08

On BSE, so far 113 shares were traded in the counter as against average daily volume of 2,188 shares in the past one quarter. The stock hit a high of Rs 23,786.65 and a low of Rs 23,600 so far during the day. The stock had hit a 52-week high of Rs 25,649.95 on 10 August 2016. The stock had hit a 52-week low of Rs 15,752.65 on 12 February 2016.

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

On 1 July 2016, board of directors of Bosch had approved buyback of 8.78 lakh fully paid up equity shares, or 2.79% equity, at Rs 23,000 per share through the tender offer route. The buyback offer aggregates to Rs 2019.76 crore. Bosch's German parent Robert Bosch GmbH has decided to participate in the buyback offer. The foreign parent currently holds 71.18% stake (as per the shareholding pattern as on 30 June 2016).

Bosch's net profit rose 0.8% to Rs 378.72 crore on 10.6% growth in total income to Rs 2702.26 crore in Q1 June 2016 over Q1 June 2015.

In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. Bosch is the flagship company of the Bosch Group in India

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