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  1. Amtek Auto shares plunge over 6% as Q1 net loss widens

Amtek Auto shares plunge over 6% as Q1 net loss widens

Shares of Amtek Auto slipped over 6 per cent in the early trade on Wednesday after the company's net loss widened to Rs 319.68 crore for the quarter ended June 30, 2016 as compared to a net loss of Rs 157.60 crore in the same quarter last year.

By: | New Delhi | Updated: September 14, 2016 5:28 PM
bse sensex, nse nifty, market outlook wednesday Shares of Amtek Auto slipped over 6 per cent in the early trade on Wednesday after the company’s net loss widened to Rs 319.68 crore for the quarter ended June 30, 2016 as compared to a net loss of Rs 157.60 crore in the same quarter last year. (Photo: PTI)

Shares of Amtek Auto slipped over 6 per cent intraday in the early trade on Wednesday after the company’s net loss widened to Rs 319.68 crore for the quarter ended June 30, 2016 as compared to a net loss of Rs 157.60 crore in the same quarter last year. The company’s net total income from operatins slipped by nearly 36 per cent to Rs 553.26 crore for the quarter under review against Rs 866.32 crore in the corresponding quarter last fiscal.

At 10.42 am, shares of the company were trading 3.29 per cent down at Rs 42.65. The scrip opened the day at Rs 41.55 and has touched a high and low of Rs 43.60 and Rs 41.25, respectively, in trade so far. Later, the share price of the company ended 2.49 per cent down at Rs 43.

In a separate filing, Amtek Auto informed bourses that its board has approved the re-appointment of John Ernest Flintham as managing director of the company for a further period of two years with effect from August 14.

In the past one year, shares of Amtek Auto have fallen 5.57 per cent to Rs 44.10 till September 12, whereas BSE Sensex climbed 10.71 per cent during the same period. The BSE group ‘A’ stock of face value Rs 2 has hit a 52 week high of Rs 57.90 on September 14, 2015 and a 52 week low of Rs 26.05 on February 12, 2016.

Promoters hold around 47.42 per cent stake in the company, while institutions and non-institutions held 13.32 per cent and 39.26 per cent, respectively.

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