Dalal Street Investments
Top

BUY: Amtek Auto for Long Term

August 4, 2006

Indian media reports that Warburg Pincus has picked up 9% stake in Amtek Auto. Its not just that. One of Indian Mutual Funds, HDFC has been buying Amtek Auto since April-2006. We are not sure when Warburg Pincus started buying into this stock but we know they own 9% stake in the company. Warburg is the same Venture capital firm which invested $300 million in Bharti-Airtel and made a cool $1.5Billion 🙂

HDFC currently holds around 8-9% stake in Amtek Auto under various funds from Equity to MIP to balanced. With Sensex being at 11,000, I would advise to BUY just 30% of your capacity around Rs290 levels in Amtek Auto and then add on to it.

Disclosure: I am doing the same thing as I am writing here 🙂

Comments

Got something to say?






Bottom