Amtek India in limelight

Amtek India is doing pretty well today, with the stock showing an over 4 times rise in volumes and price almost 5% up at Rs.81.30. Intra day high is at Rs.84.30. the stock had yesterday breached the upper circuit at Rs.77.50.

There is a sense of optimism around the stock after its acquisition of German component maker, Kuepper as the company has stated that this acquisition, which is now completed, came at a much lower cost than expected. It went on to add that it will now first work on establishing synergies between Kuepper, with its 5 plants across Germany and Hungary and Amtek’s existing facilities in Germany. The group as such is expected to benefit from this acquisition and hopes to post a consolidated revenue of Rs.15,000 to 16,000 crore and EBITDA margins of around 19-20% in current FY14.