Bosch suspends operations in plants; stock hit new 52-week low today

The Company is in close contact with Central and State Governments on the evolving situation and is willing to extend support to the authorities in combating the spread of COVlD-19.

Mar 23, 2020 10:03 IST India Infoline News Service

Bosch Ltd
Bosch Linited informed the exchanges today that in the past two weeks, the company had initiated several preventive measures to ensure health and wellbeing of all its employees. To further strengthen these measures, the Company has decided to suspend its operations in its Plants situated at Bengaluru, Naganathapura and Bidadi in the State of Karnataka, Nashik in the State of Maharashtra, Jaipur in the State of Rajasthan and Gangaikondan in the State of Tamilnadu till 31st March 2020. Based on developing situation, the Company will decide on further measures and dates for restarting operations with regular communication to all stakeholders.

The stock traded on new 52-week low and also touched a lower circuit ar Rs8,212.45

At Bosch, the Safety, Health and well- being of our employees is our utmost priority. Bosch Limited has been taking all recommended precautions in its operations against the spread of COVID-19, which includes sanitization and hygiene, temperature checks, maximizing use of digital platforms for e -meetings, health and social distancing advisories to employees and following all the Government directives on the subject.

In light of the COVID-19 pandemic, some of the State Governments have also decided to shut down all the non-essential business activities till 31st March, 2020 to contain the spread of COVID-19 in their respective States. The Company is closely monitoring and complying with all regulatory announcements being issued by the Central / State I Municipal / Local authorities and is committed to ensure full and immediate compliances with these.

The Company is in close contact with Central and State Governments on the evolving situation and is willing to extend support to the authorities in combating the spread of COVlD-19.

Bosch Ltd ended at Rs8,442.15 down by Rs1219.5 or 12.62% from its previous closing of Rs9,661.65 on the BSE.
The scrip opened at Rs9,200 and touched a high and low of Rs9,281.10 and Rs8,212.45 respectively. A total of 36,712 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs28,495.72cr.

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