Wednesday 4 December 2013

Amtek Auto rises on the buzz of acquiring 13.23 lakh shares of JMT Auto

Amtek Auto is currently trading at Rs. 73.10, up by 1.80 points or 2.52% from its previous closing of Rs. 71.30 on the BSE.

The scrip opened at Rs. 71.50 and has touched a high and low of Rs. 74.60 and Rs. 71.00 respectively. So far 58588 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 94.70 on 26-Dec-2012 and a 52 week low of Rs. 58.65 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 75.90 and Rs. 67.75 respectively. The current market cap of the company is Rs. 1600.33 crore.

The promoters holding in the company stood at 47.99% while Institutions and Non-Institutions held 44.61% and 7.40% respectively.

Amtek Auto has reportedly acquired 13.23 lakh shares of JMT Auto through the open market route. The shares were purchased on an average price of Rs 148.70 valuing the transaction to Rs 19.68 crore. On the other hand, Rajeev Singh Duggal has sold 13.10 lakh shares of JMT Auto at Rs 148.70 through the open market route.

JMT Auto is one of the leading Auto component manufacturers in Eastern region. The company had identified Transmission Components as its key business area and acquired core competency in manufacturing products.

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