Amtek Auto deep in red
By
Research Desk
about 9 years ago
Troubles continue at Amtek Auto. The stock price plunged almost 6% to Rs.41 levels and remains firmly in the red as its loss for Q1FY17 widened further.
The company posted a net loss of Rs.320 crore, almost doubling from Q1FY16 loss of Rs.158 crore. Net sales have also been on a decline – down from Rs.854 crore to Rs.539 crore. Thus overall, there has been a complete decline in efficiencies and the market is clearly showing its not happy.
The stock thus remains firmly in the red sellers at this juncture outnumbering the buyers.