Bosch shrugs off production cut plan

Bosch was up 0.39% to Rs 2986.05 at 14:58 IST on BSE, on bargain hunting even as the company announced a cut in production.
The company made this announcement during trading hours today, 25 November 2008.
The stock hit a high of Rs 3010 and a low of Rs 2930.05 so far during the day. The stock hit a 52-week high of Rs 5880 on 4 December 2007 and a 52-week low of Rs 2675.05 on 27 October 2008.
The stock had lost 24.68% to Rs 2974.50 on Monday, 24 November 2008 from a recent high of Rs 3949.30 on 1 October 2008.
The company's current equity is Rs 32.05 crore. Face value per share is Rs 10.
The current price of Rs 2986.05 discounts the company's Q3 September 2008 annualized EPS of Rs 197.44, by a PE multiple of 15.12.
The company has announced a temporary shut down to the selected production areas/shops at its Nashik plant from 28 November 2008 to 29 November 2008. The company will also close the manufacturing activity of starters and generators at its Naganathapura plant starting from 26 November 2008 to 29 November 2008. The temporary shut down is to avoid the unnecessary inventory build up and to adjust the production to meet demand.
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.