Buy Back: Watch out Bosch in July 4 trade

Bosh Ltd., will certainly be in focus on July 4 as the company has approved a buy back. The company in a statement has informed BSE that the board of directors of the Company at its meeting held on July 01, 2016, has approved the buy-back of 8,78,160 fully paid up equity shares of face value Rs. 10 each per share representing 2.796 per cent of the total paid-up equity share capital of the company at a price of Rs. 23,000 each per share aggregating to Rs. 20,197,680,000, representing 24.99 per cent of the paid-up share capital and free reserves from the shareholders of the Company on a proportionate basis through the “Tender Offer” route using the Stock Exchange mechanism as prescribed under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended ("Buy-Back").

Looking at the buyback trend it is being observed that the shares of the company announcing buy back see a significant movement. The share price of the company is expected to shoot up on an intraday basis.
The shares on July 1 closed in the negative, down by 0.15 per cent. On the other hand, the shares in the last 5 days have gained 7 per cent.

Bosch Ltd., is an India-based company engaged in the business of supply of technology and services for automotive products. The company’s business divisions consist of Diesel Systems, Gasoline Systems, Chassis Brakes, Automotive Accessories, Car multimedia, Starters and Generators, Energy and Body Systems, Electrical Drives, Spark Plugs and Glow Plugs.