Amtek Auto Board To Consider Issue of Shares on Preferential Basis

Shital Jibhe / 08 Jun 2017

Amtek Auto Board To Consider Issue of Shares on Preferential Basis

Amtek Auto Limited is an integrated component manufacturer and is engaged in forging, gravity and high-pressure aluminium die casting, grey and ductile iron casting, and machining and sub-assembly.

Amtek Auto Limited is an integrated component manufacturer and is engaged in forging, gravity and high-pressure aluminium die casting, grey and ductile iron casting, and machining and sub-assembly. Its board is considering the issue of share on preferential basis and as a result the company's stock on Thursday is trading higher by 3 percent. 

Meeting of the board of directors is scheduled on June 10, 2017 to consider the issue of equity shares of the company on preferential basis, the company said in its BSE filing.

At Rs 35 per share, Amtek Auto is trading higher by Rs 0.9 per share or 3% at 1032 hours. The stock has delivered 3.2% returns in a period of one year and has underperformed the BSE Small Cap and BSE Auto indices over the same time period.

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