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Shares of Amtek Group companies - Amtek India and Amtek Auto have rallied over 8% each on acquisition of Germany's Kuepper group of companies. Amtek India in a regulatory filing said it has entered into an agreement to buy Germany's Kuepper group of companies, through its 100% subsidiaries.
However, the company has not disclosed the acquisition amount. The Kuepper Group is engaged in the business of iron and aluminum castings and integrated machining having five manufacturing units across Germany and Hungary. Among the individual stocks, Amtek India has surged 12% to Rs 69.45, while Amtek Auto up 9% to Rs 74.80 in early morning deals on the BSE.