Rs 170 Dividend: Buy Consistent Outperformer Auto Ancillaries Stock, TP Rs 34,200: Nuvama

Leading brokerage firm Nuvama has recommended buy call to large cap auto ancillaries stock Bosch Ltd with target price of Rs 34,200 per share. Current market price of Bosch Ltd share on BSE is Rs 30,803 per share with intraday fall of 0.12% as on May 24, 2024. Bosch share offered 37.41% return year-to-date and 64% return in last 1-year. The Board of Bosch Ltd recommended a final dividend of Rs 170 per equity share of the face value of Rs 10 each. More details below:

Bosch Ltd Recommends Final Dividend: As per the regulatory filing of Bosch Ltd dated May 24, 2024, "recommended a final dividend of 170 per equity share of 1 0 each, subject to approval of shareholders. The total dividend payout for the financial year 2023-24 (including interim dividend 205 paid in March 2024) is 375 per equity share (previous year 480/- per equity share). The said final dividend, if declared, by the shareholders at the ensuing Annual General Meeting will be paid/dispatched on or after August 13, 2024."

Bosch Q4 Results: The company on May 24 declared a surge of 41.8% year-on-year (YoY) in its consolidated net profit for the quarter ended March 31, 2024 to Rs 564.4 crore amid soaring demand for passenger cars and consumer goods product segment. It had declared its net profit for the corresponding quarter of last year at Rs 398.1 crore. The company announced a surge of 9% in its net profit, sequentially to Rs 518.2 crore in last quarter. The large cap company's revenue from operations zoomed 4.2% year-on-year (YoY) for the quarter ended March 31, 2024 to Rs 4,233.4 crore as against Rs 4063.4 crore in the similar quarter of last year. Revenue of the firm jumped slightly by 0.67% on a sequential basis from Rs 4,205.2 crore declared in Q3.

Bosch Shares Performance & Return: The 52-week high price of Bosch share on BSE is Rs 32,098.95 apiece (as on 15/05/2024) and 52-week low price is Rs 17,925.25 apiece (as on 14/08/2024), respectively. Its market capitalisation is Rs 90,850.29 crore. Bosch shares zoomed 46.50% in last 6-months, soared 119% in last 2-years, and surged 103% in last 3-years. In last 5-years, Bosch shares surged 81%.

Nuvama Gives Buy Call: According to the brokerage house, a swing breakout in Bosch led to prices touching a fresh all-time high with supporting volumes. Bosch Ltd has also been a consistent outperformer in the Auto pack. The analyst has assigned buy call with target price of Rs 34,200 per share and keep the stop loss at Rs 30,800 per share.

Bosch About: The Bosch Group is a leading global supplier of technology and services. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility, according to its official website.

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