Amtek India jumps nearly 26% in two sessions

Amtek India rose 4.65% to Rs 81.10 at 15:16 IST on BSE, extending Tuesday's 10% rise triggered by the company announcing acquisition 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.

Shares of Amtek India hit an upper circuit limit of 20% at Rs 77.50 on Tuesday, 18 March 2014. The stock has risen 25.54% in two sessions from Rs 64.60 on Friday, 14 March 2014.

Meanwhile, the BSE Sensex was down 1.39 points, or 0.01%, to 21,831.22.

On BSE, so far 6.60 lakh shares were traded in the counter, compared with an average volume of 49,220 shares in the past one quarter.

The stock hit a high of Rs 84.20 and a low of Rs 80.40 so far during the day. The stock hit a 52-week high of Rs 106.60 on 8 May 2013. The stock hit a 52-week low of Rs 49 on 31 July 2013.

The stock had outperformed the market over the past one month till 18 March 2014, rising 15.41% compared with the Sensex's 5.81% rise. The scrip had also outperformed the market in past one quarter, gaining 11.83% as against Sensex's 4.66% 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 announced entering 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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