The stock came sharply off the day's high of Rs 3147 soon after the company made the announcement.Meanwhile, the BSE Sensex was up 46.33 points, or 0.47%, to 9,878.72.On BSE, 163 shares were traded in the counter. The stock had an average daily volume of 1,402 shares in the past one quarter.The stock hit a low of Rs 3025 so far during the day. The stock hit a 52-week high of Rs 5340 on 31 December 2008 and a 52-week low of Rs 2675.05 on 27 October 2008.
The mid-cap stock had underperformed the market over the past one month till 15 December 2008, gaining 0.25% as compared to the Sensex's return of 4.76%. It had outperformed the market in the past one quarter, declining 20.57% as compared to the Sensex's decline of 27.34%.The company's current equity is Rs 32.05 crore. Face value per share is Rs 10.The current price of Rs 3025.05 discounts the company's Q3 September 2008 annualized EPS of Rs 197.44, by a PE multiple of 15.32.
Bosch has announced a temporarily shut down to its manufacturing activity of starters and generators at its Naganathapura, Karnataka plant from 19 December 2008 to 31 December 2008. The temporary shut down is to avoid the unnecessary inventory build up and to adjust the production to meet demand, the company said.
Earlier, in November 2008, the company had partially closed the same plant from 26 November 2008 to 29 November 2008, to avoid unnecessary inventory build up.The board of Bosch had on 2 September 2008 approved a buy back shares at a maximum buyback price of Rs 4,500. Bosch will buyback equity shares at a maximum outlay of Rs 639.20 crore.Bosch's net profit rose 15.7% to Rs 158.20 crore on 16.1% increase in net sales to Rs 1219.28 crore in Q3 September 2008 over Q3 September 2007.
The company is engaged in manufacturing automotive products and non-automotive products such as industrial equipments and consumer goods. Products include industrial equipment, auto electrical equipment, gear pumps for tractor applications, electric power tools, packaging machines, security technology products and blaupunkt car multimedia systems.
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