Amtek Auto Limited

Discussion in 'Ask A Query About Your Stock Picks And Portfolio' started by shubham, Mar 24, 2016.

  1. shubham

    shubham Member

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    Can one add amtek auto at this level, it seems there is less downside from this level and if something positive happens share can show a good upmove.
     
  2. dineshkapoor27

    dineshkapoor27 Active Member

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    I am bullish on Amtek auto and have bought some quantity. I have mentioned this stock in another thread as well. If you have a high risk appetite, then this is a stock to place your bet on. I dont see it breaching 20 levels anytime soon (unless we see a shocking news). Amtek is good management and global recognition of their products. I am expecting 10x returns in 5 years from this one.
     
    w4wealth likes this.
  3. w4wealth

    w4wealth Well-Known Member

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    will it be profitable in next qtr?
     
  4. dineshkapoor27

    dineshkapoor27 Active Member

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    @w4wealth I dont think so. I think it will be under pressure for at least 1 year from now. September is the timeframe which the management is looking for to finalize the sale of assets to cut their debts substantially. I'd say accumulate till that time. I see limited downside from here though, and even if it is there, more for me :).
     
  5. shubham

    shubham Member

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    I don't think that they want to sell anything ,else the news would have come till now, may be they are hoping a fast recovery in their business
     
  6. New_Investor

    New_Investor Active Member

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    Banks are under pressure to reduce their NPA. Hence, they are pressuring the companies to payback loans by whatever possible means or face stringent action.

    SBI to Essar Steel: Pay up or face management change

    http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

    Amtek Auto pledges 71% stake in JMT Auto with IL&FS Trust Co

    http://www.financialexpress.com/art...-stake-in-jmt-auto-with-ilfs-trust-co/185905/ (News dated 31st December 2015)

    Amtek Auto runs up consolidated net loss of Rs 987 crore

    http://www.dnaindia.com/money/repor...consolidated-net-loss-of-rs-987-crore-2149967 (News Dated 28 November 2015)
     
  7. dineshkapoor27

    dineshkapoor27 Active Member

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    @shubham they are selling their overseas assets (tekfor) for around $1-1.5 billion. The deal is already on. This is to be completed by September 2016. Also, they have already indicated that their India operations are not picking up, but overseas operations are going decently. Please listen to the last management interview of Amtek Auto. You will get the picture.
     
  8. New_Investor

    New_Investor Active Member

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    dineshkapoor27 likes this.
  9. shubham

    shubham Member

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    I don't understand they say their overseas business is doing well and problem is with domestic business, so why they are selling overseas business?They should sell domestic business and specially the non core assets like barista etc
     
  10. dineshkapoor27

    dineshkapoor27 Active Member

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    @shubham they are selling some of the overseas assets and they are also selling the non-core assets in India. Total sale of those assets is expected to bring around $1-1.5 billion. People have shown interest in tekfor brand, and they had turned it around so they bought it cheap and are selling at a premium.
     
  11. shubham

    shubham Member

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    Thank you Mr dinesh and new investor for your valuable inputs
     
  12. shubham

    shubham Member

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    Is there any chance that this company can revive?Recently govt has included this company in the list of IBC for fast recovery of loans. Is any member betting on it?
    Disclosure:Holding 1200 shares @ average price 42/-.
     
  13. D Mohan

    D Mohan Member

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    upload_2017-8-6_21-15-15.png
     
    Last edited: Aug 6, 2017
  14. D Mohan

    D Mohan Member

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    upload_2017-8-6_21-17-28.png
     
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