A little good news can get Amtek Auto rolling. For almost one and half year Amtek Auto stock has been scrapping the bottom near Rs. 30 level. Recently company has starting paying more attention towards debt reduction and restructuring working with Morgan Stanley and Rothschild. What would ultimately will happen is still a guess but even a slightest positivity can put the stock in another orbit near 60 first and if good news is sustainable then towards 100.
We believe that the downside risk is low since the stock has been able to cope with more than years worth of all sort of news and still holding the line. We have started accumulating the stock near 33 and will keep on playing with positive bias keeping the core position.
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