Amtek India gains after strong Q4 results

Amtek India rose 2.94% to Rs 66.50 at 12:07 IST on BSE after net profit rose 63.2% to Rs 54.28 crore on 4.9% increase in net sales to Rs 439.11 crore in Q4 June 2013 over Q4 June 2012.

The result was announced after market hours on Tuesday, 13 August 2013.

Meanwhile, the BSE Sensex was up 43.59 points, or 0.23%, to 19,273.43.

On BSE, 3,321 shares were traded in the counter compared with average volume of 1.95 lakh shares in the past one quarter.

The stock hit a high of Rs 68 and a low of Rs 65.50 so far during the day. The stock hit a record high of Rs 126.35 on 21 December 2012. It hit a 52-week low of Rs 49 on 31 July 2013.

The stock had outperformed the market over the past one month till 13 August 2013, rising 0.47% compared with the Sensex's 3.65% decline. The scrip had, however, underperformed the market in past one quarter, sliding 32.21% as against Sensex's 2.35% fall.

The small-cap company has an equity capital of Rs 55.51 crore. Face value per share is Rs 2.

Amtek India's net profit fell 0.7% to Rs 155.16 crore on 10.6% decline in net sales to Rs 1613.72 crore in the year ended June 2013 over the year ended June 2012.

Amtek India is a leading provider of iron cast automotive components in India. The company's product portfolio consists of a range of components for 2/3 wheelers, cars, tractors, light commercial vehicles (LCV), heavy commercial vehicles (HCV) and stationary engines. The categories of components manufactured are connecting rod assemblies, cylinder blocks, flywheel assemblies and turbo charger housing.

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