AMTEK AUTO LTD. - Clarifies on News Item
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| 20 Aug 2015 | |
| With reference to the news article appeared on financial express.com, on August 20, 2015 captioned "Amtek Auto shares down around 70% in a month on debt worries.", Amtek Auto Ltd has Clarified to BSE as under :<BR><BR>"As disclosed in the quarterly results of the Company for the quarter ended 30th June, 2015, there is decline in the operational performance of the Company due to current market scenario which caused decline in the sales and profit margins of the Company. There is temporary cash flow mismatch in the Company and to mitigate the present situation, the promoters have already infused Rs. 750 million and if required in future will also infuse more funds. The Company is also exploring various means of fund raising.<BR><BR>Apart from exclusion of shares of the Company from the Futures and Option (F&O) segment, we are not aware of any reasons of the significant single day fall in the stock price of the Company.<BR><BR>The management of the Company remains confident in the Companys abilities to capitalize on opportunities arising out of a stronger recovery in the Indian automobile industry over the quarters to come. The management re-iterates that the long term fundamentals of the Company remain strong.<BR><BR>In future, if any activity/event occurs or takes place, which need to be reported to stock exchanges, the same will be intimated to the exchange within due course of time." | |
| View all announcements for AMTEK AUTO LTD. | Source: BSE India |
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