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Amtek Auto surges on executing SPA with promoters of JMT Auto

28 Jun 2013 Evaluate

Amtek Auto is currently trading at Rs. 72.00, up by 0.90 points or 1.27% from its previous closing of Rs. 71.10 on the BSE.

The scrip opened at Rs. 74.00 and has touched a high and low of Rs. 74.50 and Rs. 71.75 respectively. So far 71406 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 116.30 on 05-Jul-2012 and a 52 week low of Rs. 59.90 on 05-Apr-2013.

Last one week high and low of the scrip stood at Rs. 77.00 and Rs. 65.50 respectively. The current market cap of the company is Rs. 1574.09 crore.

The promoters holding in the company stood at 44.55% while Institutions and Non-Institutions held 45.49% and 9.96% respectively.

Amtek Auto has entered and executed share purchase agreement (SPA) with the promoters of JMT Auto for acquisition of substantial shares along with complete control and management of JMT Auto, a company listed on Bombay Stock Exchange and National Stock Exchange of India. The transaction closing is subject to fulfillment of certain conditions as specified in the SPA.

Amtek Auto is engaged in manufacturing of various automotive machined and forged components such as case extensions, crankshaft assemblies, gear pinions, pivot arm, connecting rod assemblies etc. JMT Auto is engaged in the business of Auto Parts & Equipments etc.

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