Bosch Rallies 5% On Share Buyback Plans

Bosch Rallies 5% On Share Buyback Plans
Shares of auto ancillary company Bosch Ltd surged as much as 5.11 per cent to hit intraday high of Rs 22,450 after the company announced that its board will consider a proposal to buy back shares. 

Bosch's board will meet on July 1 to consider the proposal. 

In the March quarter, Bosch Ltd reported net profit of Rs 376 crore on sales of Rs 2,816.20 crore compared with net profit of Rs 287.40 crore during the same period last year.

As of 9:44 a.m., Bosch was the top Nifty gainer; the stock traded 4.87 per cent higher at Rs 22,571, outperforming the Nifty which was up 0.56 per cent.