India's Bosch jumps to near-two month high on Q3 profit rise

BOSCH

15/02/2023 08:23

** Shares of Bosch  BOSH.NS  rise as much as 2.09% to 17,777
rupees, highest in nearly two months since Dec. 21
    ** The Indian unit of German automotive supplier Bosch
reported a 36% jump in third-quarter profit
    ** BOSH also declared interim dividend of 200 rupees per
share for FY2023
    ** Analysts term BOSH's Q3 performance "healthy" and
identify the focus on improving localisation of electric vehicle
components as positive factors
    ** Motilal Oswal says BOSH will outperform the auto industry
growth with new order wins, raises earnings per share estimates
for FY23 and FY24 by 5% and 4%, respectively    
    ** About 40,016 shares change hands as of 1:33 p.m. IST,
nearly thrice the 30-day avg of 14,063 shares - Refinitiv data
    ** Stock trimmed intraday gains on Tuesday after BOSH
management warned of recession fears in 2023
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
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