Share price of Bosch jumped over 1 per cent on Wednesday after the announcement that Bosch Group is planning to seek a partner for a joint venture or a buyer for its Starter Motors and Generators Division.
The company is convinced that this can further improve the division's growth prospects in a market characterised by tough competition and cost pressure.
The Starter Motors and Generators Division develops and manufactures starters and alternators for passenger cars and commercial vehicles which helps reduce fuel consumption. The division has successfully managed to transform itself over the past few years and is posting positive results. The division is well positioned internationally, and has technically and commercially competitive products that are very well received by the company's customers.
Bosch is a major player in the diesel segment and 60 per cent of its sales come from diesel segment.
At 12.35 pm, the share price of the company was trading at Rs 21044.90, up 1.17 per cent against its previous close.