Amtek Auto surges on acquisition of Scholz Edelstahl

The stock was up 5% at Rs 156 on the National Stock Exchange.

Amtek Auto has rallied more than 5% at Rs 156 on the National Stock Exchange (NSE) in early morning trade after the company said it has acquired German based Scholz Edelstahl GmbH through its 100% Singapore based subsidiary Amtek Precision Engineering Pte. Limited.

Scholz is a leading high quality hot die forgings manufacturer for the auto and non-auto component industries. It is also engaged in the special steel trading business which will enable backward integration with all of Amtek Group's international business, Amtek Auto said in a statement.

The stock opened at Rs 160 and touched a high of Rs 162 so far. A combined 467,285 shares changed hands on the counter till 0918 hours on the NSE and BSE.