Mumbai/IBNS, June 12 -- Shares of Bosch surged nearly 5 percent on Friday after global brokerage firm UBS upgraded the stock from "Sell" to "Buy", according to an NDTV Profit report.

UBS Raises Target Price

UBS has raised its target price for Bosch to Rs. 45,530 from the stock's previous closing price of Rs. 37,565, implying a potential upside of 21.2 percent.

The brokerage said the company's ongoing portfolio repositioning has improved its growth outlook and enhanced investor confidence.

Acquisition Boosts Investor Sentiment

According to UBS, Bosch's acquisition of Chassis Systems is a key factor behind the stock's recent momentum. The brokerage expects the move to support the company's efforts to diversify and strengthen its automo...