Bosch Gains Over 3% After Opening New Plant

Bosch shares gained over 3 per cent on Friday after the auto component maker started a new manufacturing plant in Bidadi, Karnataka.
  The new plant has been made with an investment of Rs 340 crore.
  The new plant will produce common rail pumps and rails in the first phase and conventional fuel injection pumps production will start in the second phase which will be completed by 2018, the company said.
  Bosch president Steffen Berns said the developing industrial area in Bidadi will offer larger space and better infrastructure support for the company's future expansion.
  "This will help us cater to the growing business needs of the Indian market in the long-term. We see a lot of growth potential in India and strive to bring more projects, products and manufacturing to the country also in the future," he added.
  Bosch shares ended 2.37 per cent higher at Rs 23,670.30 apiece, outperforming the broader Nifty, which closed with 0.67 per cent gains.
(With agency inputs)