Sell Amtek Auto at around Rs 82 advises SP Tulsian

According to SP Tulsian of sptulsian.com, one should look for a target of may be Rs 82 on Amtek Auto and exit at the same price.
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Mar 11, 2013, 05.26 PM | Source: CNBC-TV18

Sell Amtek Auto at around Rs 82 advises SP Tulsian

According to SP Tulsian of sptulsian.com, one should look for a target of may be Rs 82 on Amtek Auto and exit at the same price.

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Sell Amtek Auto at around Rs 82 advises SP Tulsian

According to SP Tulsian of sptulsian.com, one should look for a target of may be Rs 82 on Amtek Auto and exit at the same price.

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SP Tulsian (more)

CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO

According to SP Tulsian of sptulsian.com, one should look for a target of may be Rs 82 on Amtek Auto and exit at the same price.

Tulsian told CNBC-TV18, “One should not really be too excited by Amtek Auto’s acquisition (Company is set to buy German company Neumayer Tekfor) unless until we know the financial cost involved in that. We have seen that happening in case of many other companies like Bharat Forge or may be like two-three auto ancillary companies having gone ahead with those acquisitions because they have not found to be very attractive or have leveraged the balance sheet.”

He further said, “If you see the existing position of the company they are already sitting on a debt of close to Rs 4500 crore. If you see their earnings per share (EPS) which is close to about Rs 13-14 that means that the share is ruling at a PE multiple of may be about 5-6. So, I won’t be too excited by this acquisition unless until we know the broad contours of financials.”

“The company which they have acquired has a presence in five countries with 9 plants scattered in those five countries. One should look for a target of may be Rs 82 which may be seen in next week or so and there one should look to exit,” Tulsian added.

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Sell Amtek Auto at around Rs 82 advises SP Tulsian

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