Bosch shuts Jaipur plant for two days due to slowdown
Leading auto component supplier Bosch Ltd is shutting its plant at Jaipur for two days till tomorrow in the wake of slowdown in the automobile industry.
In a filing to the BSE, the company said: "....with a view to adjust production to meet the demand for products and to avoid unnecessary build-up of inventory, the manufacturing operations at the company's Jaipur Plant have been suspended on December 30 and December 31, 2013."
The Jaipur plant is the lead plant for VE pump, an injection pump used in diesel engines.
Bosch supplies various parts, including critical engine components, to many automobile manufacturers in India.
The Indian automobile industry has been going through a prolonged demand slump. Domestic passenger car sales declined 8.15 per cent to 1,42,849 units in November this year as compared to 1,55,535 units sold in the same month last year.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), total sales of commercial vehicles were down by 28.78 per cent to 43,730 units from 61,403 units in the year-ago period.
Shares of Bosch Ltd were trading at Rs 10,414.50 per scrip in the afternoon trade, down 0.22 per cent from the previous close on the BSE.
