Today, auto components maker Amtek Auto said that its board will meet next week to mull over a proposal for infusing fresh equity by new investors and restructuring of the company. A meeting of the board is planned to be held on November 30 to consider the proposals. The fact is confirmed by Amtek Auto in a regulatory filing.
This led the Amtek Auto share price surge almost 7 per cent in the morning trade, right after the opening.
Concurrently, a joint meeting of board of directors of Amtek, Castex Technologies and ARGL Ltd is also being summoned to discuss the individual board meeting and deliberate on the infusion of fresh equity by the new investors, the company added.
While Nifty was trading in the red zone, Amtek Auto share price opened at Rs. 41, above its last close price of Rs. 38.70. The share of face value Rs. 2 has the book value of 211.56. Amtek Auto has the market cap of Rs. 869.80 crores as on 28thNovember 2016. The stock has the ADM, i.e. the Average Daily Movement of 2.12.
At 9:38 Am Amtek Auto share price was trading at Rs. 40.85 with the rise of 5.56 per cent. So far, over eleven lakh shares have changed hands on the NSE trading counter today as compared to its twenty day average volume of fourteen lakhs. The intraday high and low values of Amtek Auto thus far are Rs. 41.90 and Rs. 40.50 respectively. The 52 week high of the stock is Rs. 56.25 on 26th July 2016 while the lifetime high stands at Rs. 525.45 on 6th November 2007. The scrip had traded on its lifetime low of Rs. 1.42 on 9th February 1999.
Amtek Auto is the top 500 performing stock as identified by Dynamic Levels for the quarter. For the details on the stock, visit Amtek Auto share price history page of Dynamic Levels website.
No comments:
Post a Comment