Amtek India gallops on completing acquisition of Kuepper Group

Amtek India jumped 10.76% to Rs 71.55 at 11:16 IST on BSE after the company said that it has successfully completed the acquisition of substantial interest of Germany-based Kuepper Group.

The announcement was made after market hours on Friday, 14 March 2014. The stock market was closed on Monday, 17 March 2014, on account of Holi.

Meanwhile, the S&P BSE Sensex was up 151.75 points or 0.7% at 21,961.55

On BSE, so far 1.35 lakh shares were traded in the counter as against average daily volume of 38,977 shares in the past one quarter.

The stock hit a high of Rs 72 and a low of Rs 66.85 so far during the day. The stock had hit a 52-week high of Rs 106.60 on 8 May 2013. The stock had hit a 52-week low of Rs 49 on 31 July 2013.

The stock had underperformed the market over the past one month till 14 March 2014, falling 1.97% compared with the Sensex's 7.08% rise. The scrip had also underperformed the market in past one quarter, declining 8.37% as against Sensex's 5.28% rise.

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

Amtek India after market hours on Friday, 14 March 2014 said that it has successfully completed the acquisition of substantial interest of Germany-based Kuepper Group through its 100% step down subsidiary Amtek Kuepper GmBH. Kuepper Group is engaged in the business of iron, aluminium casting and integrated machining having 5 manufacturing facilities across Germany and Hungary.

On 24 December 2013, Amtek India said it has entered into an agreement to acquire substantial business interests of Germany based Kuepper Group through its 100% subsidiary.

Amtek India's net profit surged 112.2% to Rs 59.95 crore on 60.5% growth in net sales to Rs 625.60 crore in the quarter ended 31 December 2013 over the quarter ended 31 December 2012.

Amtek India is a leading provider of iron cast automotive components in India.

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