Amtek Auto drops on foreign fund offloading

Amtek Auto fell 2.65% to Rs 244.10 at 11:11 IST on BSE after a foreign fund sold 0.94% stake in the auto components maker on Thursday, 3 July 2014.

Meanwhile, the S&P BSE Sensex was up 41.82 points or 0.16% at 25,865.57

On BSE, so far 92,778 lakh shares were traded in the counter as against average daily volume of 2.38 lakh shares in the past one quarter.

The stock hit a high of Rs 248.40 and a low of Rs 241.90 so far during the day. The stock had hit a 52-week high of Rs 272.40 on 9 June 2014. The stock had hit a 52-week low of Rs 58.65 on 6 August 2013.

The stock had outperformed the market over the past one month till 3 July 2014, rising 24.5% compared with 3.88% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 59.61% as against Sensex's 14.73% rise.

The small-cap company has equity capital of Rs 43.72 crore. Face value per share is Rs 2.

Foreign fund Citigroup Global Markets Mauritius sold 20.70 lakh shares or 0.94% stake in Amtek Auto at an average price of Rs 255.93 per share in a bulk deal on NSE on Thursday, 3 July 2014. Citigroup Global Markets Mauritius owned 3.27% stake in Amtek Auto (as per the shareholding pattern as on 31 March 2014).

Amtek Auto's net profit dropped 65.4% to Rs 84.88 crore on 65.8% growth in net sales to Rs 910.38 crore in the quarter ended 31 March 2014 over the quarter ended 31 March 2013.

Amtek Auto is an automotive component manufacturer with a strong global presence.

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