A weak September quarter showing weighed on the share price of Bosch, the country’s largest auto component player. The stock shed 1 per cent even as the benchmark indices rose 1.68 per cent and hit their all-time highs, owing to higher costs and lower margins.
Though revenues have recovered from the dip during the June quarter, the overhang for the stock was the weak margin performance. Margins for the quarter, at 11.6 per cent, were down 295 basis points (bps) over the year-ago quarter. In fact, they were way below expectations of 15 per cent.
This was largely due to its weak