Amtek India gains on plan to raise up to Rs 200 crore

Amtek India is currently trading at Rs. 87.40, up by 0.85 points or 0.98% from its previous closing of Rs. 86.55 on the BSE. The scrip opened at Rs. 87.30 and has touched a high and low of Rs. 88.60 and Rs. 87.00 respectively. So far 71381 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 137.85 on 16-Jun-2014 and a 52 week low of Rs. 54.50 on 20-Dec-2013. Last one week high and low of the scrip stood at Rs. 95.00 and Rs. 85.75 respectively. The current market cap of the company is Rs. 2441.86 crore. The promoters holding in the company stood at 71.12 % while Institutions and Non-Institutions held 9.75 % and 19.13 % respectively. Automobile parts maker Amtek India is planning to raise up to Rs 200 crore by issuing non-convertible preference shares. In this regard, the company’s board at its meeting held on November 24, 2014, has considered and approved issuance of non-convertible preference shares up to Rs 200 crore. Recently, the company reported 12.13 per cent increase in net profit at Rs 61.82 crore for the quarter ended September 30, compared with Rs 55.13 crore in the year-ago period. Net sales of the company stood at Rs 760.09 crore, up 36.15 per cent as against Rs 558.25 crore in the same quarter last year. Amtek India, India’s largest iron casting company, is a majority owned subsidiary of Amtek Auto, the flagship company of the Amtek Group.