Bosch puts on a good show

In an otherwise very poor market, Bosch seems to be holding on pretty strong. The stock opened Rs.313 higher in the morning at Rs.21925, going on to hit an intra day high at Rs.22,590.65 and it is currently at Rs.22,500 levels, up over 4%. Its 52-week is at Rs.27,989.

The stock is up, celebrating the news that beginning 29thMay, it will be included in the Nifty. It will be replacing IDFC, emerging as one of the best performing auto ancillary stock on the bourses.

A fortnight ago, it also announced the lifting of a lockout at its facility at Jaipur. The workers had had indulged in a ‘Go-slow’ action, from March 19, 2015 and subsequently indefinite hunger strike by the Union office bearers with effect from April 02, 2015. Following a conciliation meeting between the Management and Labour Union supported by the Labour Secretary, it has now been agreed that the Union will not indulge in a ‘Go-slow’ action and call off their hunger strike immediately and the company lifted the Lockout from first shift of April 15, 2015.