Shares of Amtek India and Amtek Auto rallied 14 percent and
9 percent respectively in intraday trade on Thursday. Investors are excited
about both the stocks as Amtek India has entered into an agreement to acquire
substantial business interests in Kuepper group of Germany, through its 100 per
cent subsidiaries.
Reports suggest that deal value is 200 million euros (around
Rs 1680 crore). The deal may provide Amtek access to high-tech German machining
technology and new product customers from Europe. It is likely to bring synergy
with Amtek's core expertise in casting and forging operations and strengthens
its market position.
Kuepper is the market leader in machine casting industry ,
with big clients BMW, Daimler and Volkswagen. Kuepper has four manufacturing
facilities across Germany and one in Hungary. The Kuepper group is engaged in
the business of iron and aluminium casting and integrated machining having five
manufacturing units across Germany and Hungary.
At 10:46 hrs Amtek India was quoting at Rs 68.75, up Rs
6.75, or 10.89 percent while Amtek Auto was quoting at Rs 74.00, up Rs 5.45, or
7.95 percent on the BSE.
CapitalHeight Provides Accurate Stock Market Tips/Share market tips with high accuracy.Stock Calls are given for NSE and BSE Stock Cash Traders with intense analysis done by our expert research Team. Our Expert teams provide you detail Technical and Fundamental analysis of the markets for Huge profit.
Indian market gives you a place where you can invest and make huge profit. Traders can take the advantages from Epic Research, it's a best trading advisory.
ReplyDeleteStock market news are always helpful for stock traders. Traders can make a huge profit with the help of Forex Tips given by experts.
ReplyDelete