Bosch tumbles about 9% in eight sessions

Bosch fell 2.63% to Rs 14,623.05 at 13:59 IST on BSE, extending recent steep losses.

Meanwhile, S&P BSE Sensex was down 74.68 points or 0.20% at 37,908.06.

On BSE, 2,937 shares were traded in Bosch counter, compared to a 2-week average of 650 shares. The share price hit an intraday high of Rs 15,070.75 and a 52-week intraday low of Rs 14,607.05 today, 24 July 2019. It hit a 52-week high of Rs 22,400 on 31 August 2018.

Shares of Bosch declined 8.84% in eight trading sessions to its current market price of Rs 14,623.05, from a recent closing high of Rs 16,041.65 on 12 July 2019.

Bosch announced after trading hours yesterday, 23 July 2019, that in order to adjust its production to meet the demand for products and to avoid unnecessary buildup of inventory, it has proposed to suspend all the manufacturing operations in its plant situated at Naganathapura in Karnataka for two days, i.e. 27 July 2019 and 29 July 2019.

Bosch's net profit fell 16.7% to Rs 411.70 crore on a 12.9% drop in net sales to Rs 2,749.15 crore in Q4 March 2019 over Q4 March 2018.

Bosch makes automotive products, including fuel injection equipment and components; injectors, nozzles and nozzle holders, and starter motors and generators.

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