The nearly three-month-old buyback period of GE Shipping came to a close on Wednesday. The company had set a target of buying ₹279-crore worth shares at a maximum price of ₹279 apiece. GE Shipping, however, could mop up only 15.42 lakh equity shares worth ₹41.2 crore as against the maximum target of one crore shares. During the buyback period, the share price of the company mostly remained above the level of ₹279. On Wednesday, it closed at ₹315.10. It 52-week high is ₹329.20. It registered its 52-week low at ₹199 in June 2013.

Bosch seeks a spark from fourth quarter results

Bosch derives more than half its revenues from supplies to diesel engines and caters to segments such as passenger cars, utility vehicles, commercial vehicles, tractors and locomotives. Considering that the auto industry has been reeling under a slowdown, Bosch’s performances in the recent quarters have been cushioned a little by the robust sale of tractors and earnings from exports and non-automotive segment. These may continue to support Bosch in the fourth quarter, results of which are to be announced on Friday.

Govt of Singapore buys into VST Industries

Tobacco products company VST Industries will remain in focus next week as the Government of Singapore bought 2.078 lakh shares at an average price of ₹1,590. HDFC Mutual Fund has offloaded its stake. It works out to about 1.34 per cent of the paid-up capital of the company. VST Industries has been attracting institutional interest of late. From 24.40 per cent at the end of December 2012, institutions now hold 26.54 per cent stake in the company. FIIs holding in the last three quarters increased. The stock has slumped 8 per cent so far this year.

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