Amtek India recovers after 2-day 9.8% slide

Meanwhile, the BSE Sensex was down 57.91 points or 0.29% at 19,706.87.

On BSE, 7,015 shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter.

The stock hit a high of Rs 109.50 and a low of Rs 103 so far during the day. The stock had hit record high of Rs 126.35 on 21 December 2012. The stock had hit a 52-week low of Rs 79 on 10 January 2012.

The stock had outperformed the market over the past one month till 3 January 2013, rising 3.44% compared with the Sensex's 2.38% rise. The scrip had also outperformed the market in past one quarter, surging 10.75% as against Sensex's 4.74% gain.

The company has equity capital of Rs 55.36 crore. Face value per share is Rs 2.

Shares of Amtek India had declined 9.8% in two trading sessions to settle at Rs 106.65 on Thursday, 3 January 2013, from a recent high of Rs 118.25 on 1 January 2013.

Amtek India on Wednesday, 2 January 2013, said that Allotment Committee of the board of directors at a meeting held on Wednesday, 2 January 2013, allotted 7.58 lakh equity shares at Rs 103.005 per share upon the conversion of foreign currency convertible bonds (FCCB) of $1.40 million out of FCCB issue of $70 million.

Amtek India's net profit fell 26.6% to Rs 29.50 crore on 14.1% decline in net sales to Rs 374.81 crore in Q1 September 2012 over Q1 September 2011.

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.

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