Positive on Amtek Auto, says SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I have that view for all the Amtek Auto group stocks, whether you take a call on Metalyst Forging or may be Castex Tech or may be Amtek Auto, because the debt reduction plan is going to happen. You cannot expect that the company will continue with Rs 17,000 crore debt on a consolidated basis and the banks and lenders will allow them to go on like that and the company has in the past appointed an investment banker to find out the buyer for their own overseas assets which can fetch them about Rs 5,000-7,000 crore. Once that happens all the effect of that will be seen reflecting into all the group companies whether you talk of JMT Auto, Metalyst Forging, Castex Technologies and Amtek Auto.""I am continuing to have the positive view on the stock with a time horizon of about six months," he said.