Amtek India rallies on acquisition of Kuepper Group Germany
Amtek India and Amtek Auto have rallied 17% each at Rs 75.80 and Rs 136 respectively on the National Stock Exchange.
Amtek India has rallied 17% to Rs 75.80 after the company said it has completed the acquisition of German auto component firm Kuepper for an undisclosed amount.
Kuepper Group is engaged in the business of iron, aluminium casting and integrated machining having 5 manufacturing facilities across Germany and Hungary.
In December, Amtek India had entered into an agreement to buy Germany's Kuepper group of companies, through its 100% subsidiaries.
The stock opened at Rs 68.05 and touched a high of Rs 76.40 on the BSE. The counter has seen huge trading volumes with a combined 1.98 million shares changing hands so far on the BSE and NSE.
Amtek India’s parent Amtek Auto also surged 17% to Rs 136, also its 52-week high on the NSE.
Kuepper Group is engaged in the business of iron, aluminium casting and integrated machining having 5 manufacturing facilities across Germany and Hungary.
In December, Amtek India had entered into an agreement to buy Germany's Kuepper group of companies, through its 100% subsidiaries.
The stock opened at Rs 68.05 and touched a high of Rs 76.40 on the BSE. The counter has seen huge trading volumes with a combined 1.98 million shares changing hands so far on the BSE and NSE.
Amtek India’s parent Amtek Auto also surged 17% to Rs 136, also its 52-week high on the NSE.