Bosch in the limelight
Bosch is on a roll. The stock hit a new life-time high at Rs.17,299 and though it has come off this high, it remains 4% up at 17,000 levels.
The stock has been scaling new highs since 11th Nov, when it declared its numbers for its third quarter (year ending 31st Dec) ended 30th Sept 2014. Net revenue of the company rose 16% (YoY) at Rs.2457 crore and net profit was up 31% at Rs.306 crore. And for the nine-month period, its net profit stands at Rs.939 crore and this is more than net profit of Rs.885 crore posted for last entire year.
The company’s Bangalore plant has been on a strike since Sept’14 and in a statement issued last month, the company had already estimated the loss on account of the strike at 2% of the turnover. With the strike still on, it is sure to affect the performance of the company during its last quarter but the market is probably unconcerned as even till end of Q3, numbers have bettered that of last year.