BOSCHLTD

By Zaheer Kachwala and Jaspreet Singh

BENGALURU, Feb 11 (Reuters) - India's southern state of Karnataka has received investment proposals worth nearly 10 trillion rupees ($115.31 billion), a government spokesperson said, as the country tries to bolster its manufacturing sector and generate jobs in a slowing economy.

The proposed investments would focus on areas such as renewable energy, steel, semiconductors and automobiles, the spokesperson said at the 'Invest Karnataka' event on Tuesday.

To be sure, not all proposals have been confirmed and the government has not provided a timeline for these investments.

The state government aims to implement at least 70% of proposals, up from 40% to 50% after the event's 2022 edition, the New Indian Express newspaper reported last week, citing a state minister.

Companies that have pledged investments included India's Mahindra and Mahindra MAHM.NS and JSW Group, Germany's Bosch BOSH.NS, Japan's Toyota Motor 7203.T and Taiwan-based Foxconn.

Karnataka, which includes the IT hub of Bengaluru, is among the top contributors to India's economy and is a major exporter of software, IT services and manufactured goods.

The investment commitments also come amid New Delhi's push to boost domestic manufacturing and reduce imports as it looks to take advantage of Sino-U.S. tensions that have led companies such as Apple AAPL.O to diversify their manufacturing operations away from China..

Inaugurating the event, Indian Defence Minister Rajnath Singh said India's growing economy and strong consumption make it an investment target, with recent moves like a personal income tax cut set to fuel demand.

The JSW Group, whose business spans industries including cement, steel, paints and energy, will invest 1.2 trillion Indian rupees ($13.84 billion) to expand its operations in the state, Chairman and Managing Director Sajjan Jindal said.

Mahindra, which already has a strong presence in Karnataka, plans to invest nearly 400 billion Indian rupees in the state($4.61 billion) over the next few years, chairman Anand Mahindra said at the event.

($1 = 86.7240 Indian rupees)

(Reporting by Zaheer Kachwala and Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)

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Feb 3 (Reuters) - Bosch Ltd BOSH.NS:

• GOT DEMAND ORDER FOR TAX OF 777.4 MILLION RUPEES AND PENALTY OF 777.4 MILLION RUPEES

Source text: ID:nBSE1rZN5Q

Further company coverage: BOSH.NS

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** Shares of Bosch BOSH.NS falls 5% to 28,289.55 rupees, a seven-month low

** Auto-parts maker reported a ~8% y/y rise in Q3 profit before exceptional items and tax; net profit falls ~12%

** UBS says co missed its EBITDA estimates by 10% on slower revenue growth, sharp q/q rise in employee costs

** "Auto demand outlook continues to be subdued across key segments in near term" - Motilal Oswal

** EBITDA margin was down 70 bps in Q3, impacted by high employee costs; lower other income, higher taxes led to a miss in profit after tax - brokerage

** Stock eyes busiest session in seven months, volumes 7.1x 30-day avg

** Stock down ~16% this month, set for biggest monthly fall since March 2020

($1 = 86.5825 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Jan 28 (Reuters) - Bosch Ltd BOSH.NS:

• APPROVED SALE OF BUILDING TECHNOLOGY'S PRODUCT BUSINESSES TO KEENFINITY INDIA

• SALE OF BUILDING TECHNOLOGY'S PRODUCT BUSINESSES TO KEENFINITY INDIA FOR 5.95 BILLION RUPEES

Source text: [ID:]

Further company coverage: BOSH.NS

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By Sergio Goncalves

LISBON, Jan 6 (Reuters) - The Portuguese state body that promotes investments for export-focused projects garnered deals last year worth 10 times more than in 2023, showing the country remains attractive for foreign companies, the Economy Ministry said on Monday.

The ministry's AICEP division, which offers tax breaks and other incentives for exports and investment, drew 420 million euros ($437.22 million) of such investments in 2024, compared to just 41 million euros in 2023, the ministry said in a statement.

"This important set of contracted investments, in strategic sectors with strong creation of qualified jobs, is proof of investors’ confidence in Portugal," Economy Minister Pedro Reis said.

New projects in 2024 included investments across U.S. semiconductor packaging company Amkor Technology AMKR.O, German engineering giant Bosch and powertrain producer Horse, a joint venture between Renault RENA.PA and Geely that in Portugal produces gearboxes and mechanical components for cars.

Other relevant projects were in the pharmaceutical industry and information technologies.

The new projects are expected to directly create more than a thousand jobs, the ministry said.

It said that the "very significant increase in investment contracts will allow the Portuguese economy to start 2025 with good prospects, in a challenging external environment".

An export push and a tourism boom have contributed heavily to Portugal's recovery from its 2011-14 debt crisis and bailout.

Despite slowing economic activity across the 20-nation euro zone, and political instability in Germany and France, Portugal's economy is expected to grow 2.1% this year after 1.8% in 2024, the government says, with accelerating investment backed by European Union funding, and a rise in exports as well.

AICEP provides incentives, tax breaks and loans from EU cohesion funds to companies only in export-oriented businesses.

($1 = 0.9606 euros)

(Reporting by Sergio Goncalves; editing by Mark Heinrich)

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By David Shepardson

WASHINGTON, Dec 13 (Reuters) - The U.S. Commerce Department said Friday it reached a preliminary deal with German auto supplier Bosch BOSH.NS for up to $225 million in subsidies to build silicon carbide power semiconductors in California that are key for electric vehicles.

The department said the funding will support Bosch’s planned $1.9 billion investment to transform its manufacturing facility in Roseville, California for production of SiC power semiconductors. Commerce is also offering Bosch approximately $350 million in proposed government loans for the project.

The department is tapping the $52.7 billion fund to subsidize U.S. semiconductor production and research approved in 2022. Officials have been racing to finalize terms for major loans in the weeks before President-elect Donald Trump takes office.

Bosch expects to produce its first chips on 200-millimeter wafers in its Roseville facility starting in 2026. SiC chips are key components for automotive, telecommunications, and defense industries. They utilize less energy and are critical for boosting the efficiency of electric vehicle driving and charging, the department said.

In 2023, Bosch acquired key assets of California-based TSI Semiconductors and said producing the chip would "be heavily dependent on federal funding opportunities."

Like other automotive manufacturers, Bosch was hit hard by disruptions to semiconductor production in Asia exacerbated by the COVID-19 pandemic.

In October, the department said it reached preliminary agreement with Wolfspeed WOLF.N for $750 million in grants for its new North Carolina silicon carbide wafer manufacturing plant facility.

Commerce said when the Bosch facility reaches full capacity, the project could comprise more than 40% of all U.S.-based SiC device manufacturing capacity.

"The Roseville investment enables Bosch to locally produce silicon carbide semiconductors, supporting U.S. consumers on the path to electrification,” said Paul Thomas, president of Bosch in North America in a statement.

Representative Doris Matsui, a California Democrat who helped write the 2022 law, said the award to Bosch would allow them to build "essential components for advances in clean mobility, electric vehicles and other clean energy technology."

(Reporting by David Shepardson; Editing by Michael Perry)

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Nov 12 (Reuters) - Bosch Ltd BOSH.NS:

• BOSCH Q2 NET PROFIT 5.36 BILLION RUPEES

• BOSCH Q2 REVENUE FROM OPERATIONS 43.94 BILLION RUPEES

Further company coverage: BOSH.NS

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Corrects text and instrument codes in paragraph 2 to show Robert Bosch of Germany is a stakeholder, not Bosch Ltd. of India

BRUSSELS, Aug 20 (Reuters) - The European Commission said on Tuesday that it had approved a 5 billion euro ($5.5 billion) German state aid measure to support a new microchip manufacturing plant in Dresden for the European Semiconductor Manufacturing Company (ESMC).

ESMC is a joint venture between Taiwan Semiconductor Manufacturing Company 2330.TW, Robert Bosch, Infineon IFXGn.DE and NXP NXPI.O.

($1 = 0.9025 euros)

(Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan)

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Aug 6 (Reuters) - Bosch Ltd BOSH.NS:

• BOSCH Q1 NET PROFIT 4.66 BILLION RUPEES

• BOSCH Q1 REVENUE FROM OPERATIONS 43.17 BILLION RUPEES

Source text for Eikon: ID:nBSE9DLlhS

Further company coverage: BOSH.NS

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** Shares of India's Bosch BOSH.NS up as much as 4.5% to hit record high 32,229.50 rupees

** Stock trims some gains to last trade 3.1% higher

** Local arm of German automotive supplier Robert Bosch GmbH reported ~42% rise in Q4 net profit after market close on Friday, on higher demand for its products such as auto parts and accessories

** BOSH snapped three straight weeks of gains at the end of Friday's session, closing 0.6% lower for the week

** Trading vols at 1.8x the 30-day avg

** YTD, stock has gained ~43%

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, May 24 (Reuters) - Bosch BOSH.NS, the Indian arm of German automotive supplier Robert Bosch GmbH, reported a 41.5% climb in fourth-quarter profit on Friday, helped by better demand for its automotive products and consumer goods.

Net profit rose to 5.65 billion rupees ($67.99 million) in the quarter ended March 31 from 3.99 billion rupees a year earlier for the company, which makes auto parts and accessories for cars, two wheelers and railways among others.

India's total vehicle production during the January-March period rose over 21%, which in turn also helped expand the auto parts demand.

"The resilient uptick (in revenue in the year) was fuelled by increased demand for passenger cars and consumer goods product segment," company said in a statement.

Revenue from operations grew 4.2% to 42.33 billion rupees, pushed up by 2.8% rise in the moneymaker automotive products segment, while smaller consumer goods segment grew 10.1%.

Total expenses rose 3.6% in the quarter.

Shares of Bosch closed down 0.1% ahead of results, while it had gained 38.9% in the year so far.

($1 = 83.1000 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Nivedita Bhattacharjee)

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Updates to reflect analyst's revised estimate in paragraph 3

By Bharath Rajeswaran

BENGALURU, May 15 (Reuters) - India's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets.

With this, India has further narrowed the gap with China on the index. While China's weightage in the index will fall to 25% from 25.4%, India's weight will rise to 19% from 18.2%. The changes, announced on Wednesday, will be effective May 31.

The May review will lead to about $2 billion - $2.5 billion inflows into India, Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research said.

Consistent flows from domestic institutional investors and steady participation by foreign investors means that there is potential for India to surpass 20% weightage in the MSCI Global Standard index by the second half of 2024, Pagaria said.

With the May rejig, India's stock count in the MSCI Global Standard index is at 149, the highest ever for the country.

India's rising prominence in emerging markets is due to robust performance of its equities, particularly in the mid-cap segment, amid the relative underperformance by other emerging markets, especially China, analysts have said.

MSCI will add 13 Indian companies, the most among emerging markets, to the Global Standard Index from May end.

These include JSW Energy JSWE.NS, Canara Bank CNBK.NS, Indus Towers INUS.NS in the large-cap segment, and Mankind Pharma MNKI.NS, Bosch BOSH.NS, Solar Industries SLIN.NS, NHPC NHPC.NS, Torrent Power TOPO.NS, Thermax THMX.NS, Jindal Stainless JIST.NS and Sundaram Finance SNFN.NS in the mid-cap index.

Phoenix Mills PHOE.NS and PB Fintech PBFI.NS have been upgraded to the mid-cap index from small-cap by MSCI.

Berger Paints BRGR.NS will be removed from the MSCI index while Indraprastha Gas IGAS.NS and Paytm's parent One 97 Communications PAYT.NS have been downgraded to the small-cap index from the mid-cap index.

Housing Urban Development Corp HUDC.NS and Waaree Renewable Technologies WAAE.BO have been added to the small-cap index.

Separately, 29 Indian stocks have been added to the MSCI Domestic index while 15 have been moved to other categories or removed.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)

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** Zydus Lifesciences ZYDU.NS, Hero Motocorp HROM.NS, NHPC NHPC.NS, Bosch BOSH.NS, JSW Energy JSWE.NS are probable large-cap entrants in upcoming Association of Mutual Funds in India's (AMFI) size reclassification, as per Nuvama

** AMFI updates classification of companies based on market capitalisation changes semi-annually, with the next update due July

** Nuvama Alternative & Quantitative Research anticipates large-cap cut-off to be about 820 bln rupees vs 670 bln rupees as of December 2023

** Nuvama sees Marico MRCO.NS, Berger Paints BRGR.NS, SBI Cards SBIC.NS, SRF SRFL.NS and Polycab India POLC.NS likely to be moved to mid-cap from large-cap

** Research house expects MRPL MRPL.NS, Housing and Urban Development Corp HUDC.NS, BSE BSEL.NS as potential mid-cap entrants

** NHPC shares up 1.7%, ZYDU down 0.1%, HROM down 0.7%, BOSH down 0.05%

(Reporting by Sethuraman NR in Bengaluru)

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BEIJING, March 12 (Reuters) - German automotive supplier Bosch has won approval to start construction on the second phase of a research, development and assembly centre in Suzhou, in the eastern province of Jiangsu, the Suzhou Industrial Park said in a statement on Tuesday.

The second phase of the Suzhou facility for NEV components and self-driving R&D with investment totalling more than $1 billion came after the first phase that is expected to begin trial production in September before volume production early next year, the statement showed.

(Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Christopher Cushing)

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Feb 13 (Reuters) - Bosch Ltd BOSH.NS:

• APPROVED INVESTMENT OF 43.70 MILLION RUPEES IN AMP ENERGY C&I EIGHT

Source text for Eikon: ID:nNSE7srYc5

Further company coverage: BOSH.NS

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Dec 18 (Reuters) - Bosch Ltd BOSH.NS:

• MANUFACTURING OPERATIONS IN COMPANY'S BIDADI PLANT WILL REMAIN TEMPORARILY CLOSED ON DEC 30

Further company coverage: BOSH.NS

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Dec 11 (Reuters) - Bosch Ltd BOSH.NS:

• MANUFACTURING OPERATIONS AT NASHIK PLANT WILL REMAIN TEMPORARILY CLOSED FROM DECEMBER 29, 2023, TO JANUARY 01, 2024

• TEMPORARY CLOSED DUE TO ANNUAL STOCK TAKING AND IN ORDER TO ADJUST CURRENT DEMAND SITUATION

Source text for Eikon: ID:nBSE8jt8Z9

Further company coverage: BOSH.NS

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** Shares of Bosch BOSH.NS rise as much as 1.7% to 21,635.90 rupees, its highest since Sept. 3, 2018

** BOSH up 11.4% so far in November, taking stock to its best month since July, 2022

** Indian unit of German automotive supplier Robert Bosch GmbH has risen 8.9% since it reported a jump in Sept-qtr net profit on Nov. 9

** Over 30,000 shares change hands, 1.3x the 30-day moving average

** Stock last up 0.7%; extending YTD gains to ~24%, vs 38.4% increase in Nifty auto index .NIFTYAUTO

(Reporting by Kashish Tandon in Bengaluru)

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Nov 9 (Reuters) - Bosch Ltd BOSH.NS:

• APPROVED DISINVESTMENT OR SALE OF 3.5 MILLION SHARES REPRESENTING 16.90% STAKE IN HINDUJA RENEWABLES ONE

Source text for Eikon: [ID:]

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SHANGHAI, Nov 4 (Reuters) - China's Vice-president Han Zheng met Bosch Ltd BOSH.NS Chairman Stefan Hartung in Beijing on Friday, state news agency Xinhua reported.

Han said economic and trade cooperation has always been the "ballast stone" of China-Germany relations, and China welcomes multinational companies such as Bosch, Xinhua reported.

Chinese President Xi Jinping told German Chancellor Olaf Scholz through a video link on Friday that cooperation between China and Germany has become more robust, solid and dynamic.

(Reporting by Shanghai Newsroom; editing by Jason Neely)

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Oct 27 (Reuters) - Bosch Ltd BOSH.NS:

• ROBERT BOSCH GMBH'S REALIGNING OF BUILDING TECHNOLOGIES DIVISION LIKELY TO AFFECT BUSINESS OF BOSCH LTD

• DETAILS OF IMPACT IS YET TO BE ASCERTAINED

Source text for Eikon: ID:nBSE10p2Bl

Further company coverage: BOSH.NS

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Aug 28 (Reuters) - Bosch Ltd BOSH.NS:

• EXTENSION OF DISTRIBUTION AGREEMENT WITH BOSCH LIMITED

Source text for Eikon: ID:nBSE938CJg

Further company coverage: BOSH.NS

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By VarunVyas Hebbalalu and Aleef Jahan C S

BENGALURU, Aug 1 (Reuters) - Bosch Ltd BOSH.NS, the Indian arm of German automotive supplier Robert Bosch GmbH, is looking to boost manufacturing in India over the next two to four years, the company's financial chief said on Tuesday.

The technology supplier plans to increase the percentage of goods produced locally in India to bring down its imports of components, which had led to an increase of 12% in spending on traded goods last quarter.

"Currently, we have roughly 54% traded goods and 46% manufactured goods," CFO Karin Gilges said in a press conference, adding Bosch plans to change this ratio in favour of the manufactured goods to align with country's "local for local, in India" ambitions.

Bosch is expecting sales for fiscal 2024 to grow by nearly 15% as it expects to benefit from a rise in demand for pricier vehicles in the country.

The Indian market is seeing growing demand for more expensive automobiles such as sport-utility vehicles (SUVs), which accounted for more than half of the country's record 4 million passenger vehicle sales in fiscal year 2023, data showed in April.

Bosch's process of bringing new technology to the Indian market will initially involve finished goods, followed by the localisation of individual components, Gilges added.

(Reporting by Varun Vyas and Aleef Jahan in Bengaluru; Editing by Shweta Agarwal)

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July 31 (Reuters) - Bosch Ltd BOSH.NS:

• INDIA'S BOSCH JUNE-QUARTER NET PROFIT 4.09 BILLION RUPEES VERSUS PROFIT 3.34 BILLION RUPEES

• BOSCH JUNE-QUARTER REVENUE FROM OPERATIONS 41.58 BILLION RUPEES VERSUS 35.44 BILLION RUPEES

• BOSCH LTD - BOSCH INDIA WILL SHOWCASE THE BS6 STAGE 2 HYDROGEN ENGINE TRUCK, BY EARLY 2024

Source text for Eikon: ID:nBSE4l7Mvr

Further company coverage: BOSH.NS

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Updates with confirmation in headline and first paragraph, Ford statement in paragraph 3, GM not commenting in paragraph 6

By David Shepardson

WASHINGTON, June 19 (Reuters) - A bipartisan group of U.S. lawmakers will urge the CEOs of Ford Motor F.N and General Motors GM.N to shrink reliance on China auto parts, particularly electric vehicle batteries, sources told Reuters on Monday.

Four lawmakers who are part of the House of Representatives China Select Committee will travel to Detroit Tuesday to meet with Ford's Jim Farley and GM's Mary Barra, the sources said.

Republicans Mike Gallagher and John Moolenaar and Democrats Raja Krishnamoorthi and Haley Stevens also plan to meet with executives from auto suppliers including BorgWarner BWA.N, Continental CONG.DE, Bosch BOSH.NS, Tenneco and battery startup Our Next Energy (ONE).

The focus on Chinese auto parts comes soon after U.S. Secretary of State Antony Blinken made a rare visit to Beijing and hours of meetings failed to produce any major breakthroughs.

Ford said Monday it "shares the committee’s goals of strengthening American competitiveness and establishing EV supply chains in the U.S., and in our meeting tomorrow we plan to share how we’re doing just that."

GM declined to comment on the meeting.

Gallagher, who chairs the China committee, in April raised concerns about Tesla's TSLA.O dependency on China, after the company revealed plans to open a Megapack battery factory in Shanghai.

The $430 billion Inflation Reduction Act (IRA) signed by President Joe Biden in August aims to wean U.S. EV production from Chinese supply chains by imposing new conditions on EV tax credits. The new tax credit rules restrict eligibility to only North American assembled vehicles and set battery sourcing rules.

Ford's deal announced in February to use technology from Chinese battery company CATL 300750.SZ as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan has drawn criticism from some lawmakers.

Republican Senator Marco Rubio has asked the Biden administration to block EV tax credits for batteries produced using Chinese technology.

Ford said previously "making those batteries here at home is much better than continuing to rely exclusively on foreign imports, like other auto companies do."

Bloomberg News first reported the planned meetings.

(Reporting by David Shepardson and Kanishka Singh in Washington; Editing by Sandra Maler and Lisa Shumaker)

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** Shares of Bosch Ltd BOSH.NS rise as much as 1.3% to 19,123.40 rupees, highest since May 19

** Automobile components and washing machines maker up for seventh straight session, set for longest winning streak since Mar. 31, 2016, if gains hold

** At current levels, stock has gained 3.7% during this run

** Stock, which was already above 100-, 200-day simple moving average (SMA) prices, seen above 50-day SMA of 18,920.93 rupees

** Moving average convergence divergence above signal line, suggesting bullish momentum

** Around 9,000 shares change hands by 12:28 p.m. IST, 0.4x their 30-day avg volume

** Five analysts covering the stock rate it "hold" on average; median PT is 18,175 rupees - Refinitiv data

** Stock up 10.2% YTD vs Nifty Auto index's .NIFTYAUTO 17.4% rise

(Reporting by Nandan Mandayam in Bengaluru)

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May 26 (Reuters) - Bosch Ltd BOSH.NS:

• APPROVED THE SALE AND TRANSFER OF THE COMPANY'S DIGITAL MOBILITY BUSINESS

• SALE FOR A CASH CONSIDERATION NOT LESS THAN 6972 MILLION RUPEES

Further company coverage: BOSH.NS

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** Shares of Bosch Ltd BOSH.NS fall 2.95% to 18,900 rupees

** Slide after brokerage Motilal Oswal rules out possibility of margin recovery for automotive technology services provider for next three years

** Motilal ("Neutral") maintains TP at 17,850 rupees, implied downside of 8%

** ICICI Securities (downgrades to "reduce") says BOSH set to face commercial vehicles industry down-cycle headwinds from FY25, which will limit its earnings growth outlook

** BOSH reports 14% Y/Y rise in net profit in March qtr, but core profit margin contracts to 12.85% vs 13.32% Y/Y

** Since results on Wednesday, BOSH has shed over 2%

** Trading volume is 25,295 shares as of 12:52 p.m. IST, nearly same as 30-day avg - Refinitiv data

** Of five analysts tracking BOSH, two maintain "buy", two suggest "sell" and one recommends "hold"; median TP is 18,175 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

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May 3 (Reuters) - Bosch Ltd BOSH.NS:

• MARKUS BAMBERGER RESIGNS AS CHAIRMAN

Source text for Eikon: [ID:]

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