Amtek Auto rose 17.67% to Rs 193.15 at 13:47 IST on BSE after the company's subsidiary, Amtek Global Technologies, raised about Rs 1800 crore from global investment firm Kohlberg Kravis Roberts.
Meanwhile, the BSE Sensex was up 7.13 points, or 0.03%, to 27,881.86.
On BSE, so far 10.91 lakh shares were traded in the counter, compared with an average volume of 1.19 lakh shares in the past one quarter.
The stock hit a high of Rs 194.40 and a low of Rs 174 so far during the day. The stock hit a 52-week high of Rs 272.40 on 9 June 2014. The stock hit a 52-week low of Rs 62.25 on 4 February 2014.
The stock had underperformed the market over the past one month till 10 November 2014, falling 14.01% compared with 6% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.32% as against Sensex's 10.05% rise.
The mid-cap company has an equity capital of Rs 44.06 crore. Face value per share is Rs 2.
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Amtek Global Technologies (AGT), a subsidiary of Amtek Auto, and the credit business of leading global investment firm Kohlberg Kravis Roberts (KKR) on Monday, 10 November 2014, announced the signing of definitive agreements under which KKR will provide AGT with 235 million euros (about Rs 1800 crore) of long-term, flexible financing to replace its existing bridge loan and consolidate all of the company's existing debt. This facility will also act as a catalyst to help integrate Amtek Auto's existing international operations under the Singapore headquartered AGT.
The Amtek Group has annual turnover of over $2.7 billion and manages 65 world-class facilities. It has an extensive auto-product portfolio with a range of highly engineered components for passenger cars, commercial vehicles and two- and three-wheelers, and also caters to the non-auto sector. In recent years, the Amtek Group has expanded its operations both organically and through strategic acquisitions.
AGT has 19 manufacturing facilities across Germany, Italy, UK, Brazil, Hungary, US and Mexico. AGT produces high-technology products including turbochargers, precision camshafts, valve train components, con rods, and safety fasteners. The company contributes close to 40% of the Amtek Group's revenues.
Amtek Auto's net profit surged 60.6% to Rs 86.08 crore on 73.4% growth in net sales to Rs 978.80 crore in the quarter ended 30 June 2014 over the quarter ended 30 June 2013.
Amtek Auto is one of the largest integrated component manufacturers. The company has significant expertise in the automotive components sector with proven capabilities in forging, grey and ductile iron casting, gravity and high pressure aluminium die casting and machining and sub-assembly. It has an extensive product portfolio with a range of highly engineered components. The company supplies components for passenger cars, light and heavy commercial vehicles, 2/3 wheelers, tractors, locomotive components and construction and earth moving vehicles. Over the last decade, Amtek Auto has established several joint ventures and technical partnerships with leading global firms to offer customers a world class product range.
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