Amtek Auto slumped 8.72% to Rs 28.80 at 12:40 IST on BSE, with the stock extending losses after it fell a staggering 34.81% in a single trading session yesterday, 3 September 2015.
Meanwhile, the BSE Sensex was down 483.97 points, or 1.88%, to 25,280.81.
The stock fell on high volumes. On BSE, so far 58.62 lakh shares were traded in the counter, compared with an average volume of 11.12 lakh shares in the past one quarter.
The stock hit a low of Rs 25.60 in intraday trade so far, which is a 52-week low for the stock. The stock hit a high of Rs 30.30 in intraday trade so far. The stock had hit a 52-week high of Rs 266 on 12 September 2014.
The stock had underperformed the market over the past one month till 3 September 2015, sliding 81.54% compared with 8.59% fall in the Sensex. The stock also underperformed the market in past one quarter, declining 78.59% as against Sensex's 4% decline.
The stock lost a staggering 34.81% to settle at Rs 31.55 on BSE in a single trading session yesterday, 3 September 2015, after Barclays Capital Mauritius and Swiss Finance Corporation Mauritius resorted to selling of the stock. As per the bulk deals on NSE yesterday, 3 September 2015, Barclays Capital Mauritius sold 12.16 lakh shares of Amtek Auto at Rs 36.50 per share. Swiss Finance Corporation Mauritius sold 27.38 lakh shares at Rs 35.88 per share.
It may be recalled that the Amtek Auto counter witnessed a massive slide in mid-August 2015, after the National Stock Exchange (NSE) announced that the bourse has decided to exclude the Amtek Auto stock from its equity derivatives segment based on the stock selection/exclusion criteria prescribed by Securities and Exchange Board of India (Sebi).
Amtek Auto reported net loss of Rs 157.60 crore in Q3 June 2015 as against net profit of Rs 86.08 crore in Q3 June 2014. Net sales declined 12.7% to Rs 854.22 crore in Q3 June 2015 over Q3 June 2014.
Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.
Powered by Capital Market - Live News
