Exit Amtek India, says Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "If one looks at Amtek India technically, it jumps up a bit on low volumes and doesn’t sustain. Technically it is in a downtrend and I would prefer to avoid. Even if one would be holding the stock then should exit the stock and look towards much stable stocks in the largecap segment like Mahindra and Mahindra or Hero Motocorp. So, I would be looking at Hero Motocorp or even Bajaj Auto."

On December 20, 2013 Amtek India closed at Rs 55.80, down Rs 9.10, or 14.02 percent.

The share touched its 52-week high Rs 126.35 and 52-week low Rs 49 on 21 December, 2012 and 05 August, 2013, respectively.