Amtek Auto slumps on report of FCCB trouble

Amtek Auto fell 14.18% to Rs 131 at 15:30 IST on BSE on reports the company is facing trouble with $70 million foreign currency convertible bonds issue.

Meanwhile, the BSE Sensex was up 283.17 points, or 1.06%, to 27,115.83.

On BSE, so far 29.13 lakh shares were traded in the counter, compared with an average volume of 4.08 lakh shares in the past one quarter.

The stock hit a high of Rs 154 and a low of Rs 129.80 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.

The stock had outperformed the market over the past one month till 17 June 2015, rising 2.76% compared with 1.80% fall in the Sensex. The scrip was flat in past one quarter, outperforming the Sensex's 6.62% fall.

The mid-cap company has an equity capital of Rs 44.06 crore. Face value per share is Rs 2.

The Bombay Stock Exchange (BSE) has sought clarification from Amtek Auto with reference to the news flashed on a business news channel today, 18 June 2015, titled "The company facing trouble with $70 million FCCB issue." The clarification is awaited from the company.

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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