Amtek Auto was locked at 10% upper circuit at Rs 28.15 at 11:44 IST on BSE on media reports that 21 investors showed interest to buy a stake in the debt-ridden company.
Meanwhile, the S&P BSE Sensex was down 77.44 points or 0.25% at 31,220.09. The S&P BSE Small-Cap index rose 53.29 points or 0.34% at 15,733.01.
On the BSE, 18.55 lakh shares were traded on the counter so far as against the average daily volumes of 7.12 lakh shares in the past one quarter. The stock had hit a high of Rs 28.15 and a low of Rs 26.50 so far during the day. The stock had hit a 52-week high of Rs 56.20 on 26 July 2016 and a 52-week low of Rs 21.25 on 20 June 2017.
The stock had underperformed the market over the past one month till 20 June 2017, sliding 30.05% compared with the Sensex's 2.73% rise. The stock had also underperformed the market over the past one quarter, declining 28.09% as against the Sensex's 6.03% rise. The scrip had also underperformed the market over the past one year, declining 28.59% as against the Sensex's 16.49% rise.
The small-cap company has equity capital of Rs 49.65 crore. Face value per share is Rs 2.
Reports suggested that Amtek Auto has received expressions of interest (EoIs) from 21 investors, including Bain Capital, TPG Capital, DA Capital, Piramal Enterprises, AION Capital, Deccan Value Investors and Edelweiss Asset Reconstruction Company which will place financial bids over the next three months for a stake in the debt-ridden auto component maker.
Total promoter holding in Amtek Auto stood at 52.4% as per the shareholding pattern as on 10 April 2017.
Amtek Auto reported net loss of Rs 307.57 crore in Q4 March 2017, lower than net loss of Rs 563 crore in Q4 March 2016. Net sales declined 31.8% to Rs 442.36 crore in Q4 March 2017 over Q4 March 2016.
Amtek Auto is one of the leading integrated auto component manufacturers.
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