Buy Bosch, target price Rs 16200: Yes Securities

Yes Securities has buy call on Bosch with a target price of Rs 16200. The current market price of Bosch Ltd. is Rs 15518.85. Time period given by analyst is Intra Day when Bosch Ltd. price can reach defined target.

Bosch Ltd., incorporated in the year 1951, is a Large Cap company (having a market cap of Rs 45585.08 Crore) operating in Auto Ancillaries sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2542.50 Crore, down -23.72 % from last quarter Total Income of Rs 3332.99 Crore and up 118.26 % from last year same quarter Total Income of Rs 1164.92 Crore. Company reported net profit after tax of Rs 259.76 Crore in latest quarter.


Investment Rationale
The stock has resumed uptrend after breaking out of a consolidation pattern resistance on good volumes. Technical indicator RSI turning upwards from the 40-level suggests extended upside in the stock.

Promoter/FII Holdings
Promoters held 70.5 per cent stake in the company as of March 31, 2021, while FIIs held 4.3 per cent, DIIs 16.2 per cent and public and others 8.9 per cent.