Amtek Auto rose 1.26% to Rs 164.45 at 11:45 IST on BSE after the board of directors of the company approved raising of funds through various means.
The announcement was made after market hours yesterday, 28 July 2015.
Meanwhile, the S&P BSE Sensex was up 41.10 points or 0.15% at 27,500.33.
On BSE, so far 74,379 shares were traded in the counter as against average daily volume of 5.52 lakh shares in the past one quarter.
The stock hit a high of Rs 166 and a low of Rs 163.50 so far during the day. The stock had hit a 52-week high of Rs 268.80 on 4 August 2014. The stock had hit a 52-week low of Rs 129.20 on 24 March 2015.
The stock had outperformed the market over the past one month till 28 July 2015, rising 2.95% compared with Sensex's 1.27% decline. The scrip had also outperformed the market in past one quarter, gaining 3.28% as against Sensex's 0.23% gain.
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The mid-cap company has equity capital of Rs 44.06 crore. Face value per share is Rs 2.
Amtek Auto said that the board of directors of the company at its meeting held yesterday, 28 July 2015, has approved raising of funds through various means i.e. issue of equity and convertible/non convertible securities or other equity linked securities. The board has also approved issuance of shares to promoters of the company upon conversion of their unsecured loan by way of preferential issue.
Amtek Auto's consolidated net profit rose 312.1% to Rs 58.31 crore on 6.1% rise in total income to Rs 903.47 crore in Q2 March 2015 over Q2 March 2014.
Amtek Auto is a part of the Amtek Group. The Amtek Group, headquartered in India, is one of the largest integrated component manufacturers in India with a strong global presence. It is also into forging and integrated machining companies. The Group has operations across forging, iron and aluminium casting, machining and sub-assemblies.
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