Amtek Auto gains on plan to acquire various group companies of Asahi Tec Corporation

Revent Precision Engineering Ltd. | Castings/Forgings | Automobiles | BSE: 520077 | NSE: AMTEKAUTO

28 Apr 2015 Evaluate

Amtek Auto is currently trading at Rs. 157.10, up by 4.65 points or 3.05% from its previous closing of Rs. 152.45 on the BSE.

The scrip opened at Rs. 153.50 and has touched a high and low of Rs. 157.20 and Rs. 153.50 respectively. So far 55,000 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. 129.20 on 24-Mar-2015.

Last one week high and low of the scrip stood at Rs. 168.00 and Rs. 151.80 respectively. The current market cap of the company is Rs. 3,460.00 crore.

The promoters holding in the company stood at 48.98%, while Institutions and Non-Institutions held 40.25% and 10.77% respectively.

Amtek Auto (AAL) has entered into a Share Purchase Agreement (SPA) with Japan based Asahi Tec Corporation to acquire its various group companies which are engaged in the business of Iron Casting, Forging and Machining. The transaction will be completed through the overseas subsidiary of AAL. The acquired companies have various manufacturing facilities located in Japan, Thailand and China having long standing relationships with blue chip OEM.

The key products manufactured by Asahi Tec Corporation include Engine Blocks, Cylinder Heads, Front Axle Beams, Crankshafts, Turbocharger Housings and other engine & suspension related Iron, Castings and Forgings.

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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