Amtek Auto gains after clarification

Amtek Auto rose 6.29% to Rs 142.05 at 9:31 IST on BSE after the company clarified that it has not issued foreign currency convertible bonds of $70 million.

Meanwhile, the BSE Sensex was up 175.38 points, or 0.65%, to 27,291.21.

On BSE, so far 2.92 lakh shares were traded in the counter, compared with an average volume of 5.65 lakh shares in the past two weeks.

The stock hit a high of Rs 142.70 and a low of Rs 137 so far during the day. The stock hit a 52-week high of Rs 269.95 on 2 July 2014. The stock hit a 52-week low of Rs 129.20 on 24 March 2015.

Amtek Auto clarified after trading hours yesterday, 18 June 2015, that the company has not issued foreign currency convertible bonds (FCCBs) of $70 million. The company issued this clarification to the media reports titled The Company facing trouble with $70 million FCCB issue. The news is factually not correct, Amtek Auto said.

Amtek Auto reported 52.9% rise in net profit to Rs 129.82 crore on 14.1% rise in total income to Rs 1134.93 crore in Q2 March 2015 over Q2 March 2014.

Amtek Auto is one of the largest integrated component manufacturers.

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