Auto Component

New guidelines, higher M&HCV demand to drive gains for Bosch stock

Strong volume growth in its core segments of M&HCV/tractors should help keep the sales trajectory elevated

Bosch reports net profit flat at Rs 372.4 crore for September quarter

Auto component major Bosch on Tuesday reported a flat consolidated net profit of Rs 372.4 crore for the second quarter ended September 30. The company had posted a net profit of Rs 372 crore in the July-September quarter of the previous fiscal. Its revenue from operations rose to Rs 3,662 crore for the period under review compared to Rs 2,918 crore in the same period last fiscal. "The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year," Bosch Ltd Managing Director Soumitra Bhattacharya stated. Although semiconductor supplies have eased out relatively, the supply chain ecosystem itself continues to remain fragile, he added. "Despite these uncertainties, including rising input costs, we expect to build on the strong performance of this quarter," Bhattacharya noted.

Blackstone sells 13.6% stake in auto component maker Sona BLW for Rs 4k cr

Private equity firm Blackstone on Thursday divested 13.6 per cent stake in auto component maker Sona BLW Precision Forgings Ltd for over Rs 4,000 crore through open market transactions. The shares were picked up by the Government of Singapore and SBI Mutual Fund among others, bulk deal data with the BSE showed. Blackstone, which holds a stake in Sona BLW through an entity called Singapore VII Topco III PTE. Ltd, offloaded a total of 7.94 crore shares or 13.6 per cent stake in the company, the data showed. The stocks were sold on an average price of Rs 509.10 on the BSE, a discount of 5.6 per cent from Wednesday's closing price of Rs 539.10. At this price, the transaction size is aggregated to Rs 4,044 crore. As of June quarter, Blackstone, which is one of the promoters of Sona BLW, owned 19.93 crore shares, amounting to 34.12 per cent stake in the company, shareholding pattern with the BSE showed. Following the transaction, Sona BLW share dropped 4 per cent to settle the trade at

Domestic auto components industry to see 15-17% revenue growth this fiscal

The industry may again see double-digit growth in FY23, given that the impact of the Omicron variant is limited

Piramal- Bain fund invests Rs 615 crore in auto component company

Setco Automotive will transfer its clutch business into a subsidiary, Setco Auto Systems into which IndiaRF will invest through a senior debt facility and 35 per cent equity stake in SASPL.

Indian auto parts makers' shares gain on report of talks with Tesla

Shares of Indian auto parts suppliers rose as much as 14% following a report that Tesla was in talks with at least three companies to source critical parts for its planned entry into the country

Auto-component units face 14-16% fall in revenue: CRISIL SME Tracker

Small and medium enterprises (SMEs), which make up a third of the sector, have been badly hit.

Auto component industry seeks long term roadmap for regulatory changes

The industry, which accounts for around 2.3 per cent of the country''s GDP, has been struggling of late due to a prolonged downturn in the auto industry as a whole and due to Covid-19 situation

Exports likely to improve in May, contraction expected to be 30-35%: Goyal

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

Auto component industry turnover dips to Rs 1.79 trn in Apr-Sep 2019

On job losses, Jain said retrenchment has taken place from October last year till July 2019

Minda Industries form JV with Japan's Katolec for electronic products

JV plans to set up a facility in Pune to make products such as PCBs & box build assemblies

Bharat Forge acquires Walker Forge & PMT Holding for $ 14 mn

Walker Forge is a leading supplier of complex, steel and high-alloy steel, engine & chassis components to a diverse group of customers across automotive & industrial sectors

US auto component firm Cooper Standard opens facility in Pune

With this, the company has relocated its headquarters from Sahibabad (Uttar Pradesh) to Pune facility, which will also house a technical centre