Bosch skids on suspending production

Bosch fell 1.83% to Rs 13,036 after the company said it will observe no production days for upto 10 days per month per plant during the third quarter of the financial year 2019-2020.

In order to align production with sales requirements, Bosch at its various plants belonging to powertrain solutions division, will continue to observe ''no production days'' ranging upto ten days per month per plant during the third quarter of the financial year 2019-2020. The announcement was made after trading hours on Friday, 4 October 2019.

Shares of Bosch lost 3.83% in two trading sessions to its current market price of Rs 13,036, from a recent closing high of Rs 13,556.35 on 3 October 2019.

Meanwhile, the S&P BSE Sensex was up 145 points or 0.38% to 37,818.30.

On the BSE, 236 shares were traded in the counter so far compared with average daily volumes of 1,183 shares in the past two weeks. The stock hit an intraday high of Rs 13,199.95 and an intraday low of Rs 12,923 so far during the day.

The stock hit a 52-week high of Rs 20,436 on 1 November 2018. The stock hit a 52-week low of Rs 12,698.80 on 14 August 2019.

Bosch's consolidated net profit fell 35.1% to Rs 279.97 crore on a 13.5% decline in net sales to Rs 2,778.82 crore in Q1 June 2019 compared with Q1 June 2018.

Bosch operates in the manufacturing and trading of automotive products. Its segments include automotive products and others.

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