Bosch slips after suspending manufacturing operations at Bangalore, Bidadi plants

Bosch fell 0.33% to Rs 18,500 at 9:21 IST on BSE after the company said it will suspend all production activity at its Bengaluru and Bidadi plants for two days to adjust to the market demand.

The announcement was made after market hours yesterday, 29 December 2015.

Meanwhile, the BSE Sensex was up 29.65 points, or 0.11%, to 26,109.13.

On BSE, so far 73 shares were traded in the counter, compared with an average volume of 2,450 shares in the past one quarter.

The stock hit a high of Rs 18,501 and a low of Rs 18,377.20 so far during the day. The stock hit a record high of Rs 27,989.25 on 20 March 2015. The stock hit a 52-week low of Rs 17,873 on 22 December 2015.

The stock had underperformed the market over the past one month till 29 December 2015, sliding 1.45% compared with 0.19% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.30% as against Sensex's 1.17% rise.

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

Bosch announced after market hours yesterday, 29 December 2015 that with a view to adjust production to meet the demand for products and to avoid unnecessary buildup of inventory, the company is suspending all manufacturing operations at its Bangalore plant and Bidadi plant for two days on 30 and 31 December 2015. There is no financial impact on account of the proposed suspension of operations, Bosch said.

Bosch's net profit declined 0.3% to Rs 305.38 crore on 5.7% growth in net sales to Rs 2597.50 crore in the quarter ended 30 September 2015 over the quarter ended 30 September 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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