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Amtek Auto gains on plan to acquire two Europe and one South East Asia based company

25 Nov 2014 Evaluate

Amtek Auto is currently trading at Rs. 209.35, up by 1.60 points or 0.77% from its previous closing of Rs. 207.75 on the BSE.

The scrip opened at Rs. 216.00 and has touched a high and low of Rs. 218.20 and Rs. 208.55 respectively. So far 374949 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 272.40 on 09-Jun-2014 and a 52 week low of Rs. 62.25 on 04-Feb-2014.

Last one week high and low of the scrip stood at Rs. 218.20 and Rs. 201.00 respectively. The current market cap of the company is Rs. 4615.66 crore.

The promoters holding in the company stood at 48.98% while Institutions and Non-Institutions held 41.70% and 9.32% respectively.

Amtek Auto has agreed to acquire two Europe based and one South East Asia based auto and non-auto component companies through its Singapore based wholly owned subsidiary. The acquiring companies have six world-class manufacturing facilities across Europe and South East Asia, which have a combined sale in excess of Rs 2000 crore to blue chip OEMs and tier one customer worldwide. The proposed acquisitions will further strengthen Amtek’s position as one of the largest integrated global forging, casting and machining business house.

Amtek Auto manufactures components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links. It is backed by in-house design and development facilities engaged in developing new product and processes.

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