The Indian auto components industry is growing at a steady rate over the last few years. Because of increase in demands and huge investment done by foreign, domestic and retail investors. Auto components industry also contributes almost seven percent of India’s Gross Domestic Product (GDP). This industry employs almost as many as 19 million people. Multibagger stock Amtek Auto is one of the top auto components manufacturers in India and as a result, it will play a significant role in the industry.
The automotive components industry probably has grown up by US$ 39 billion in 2015-16. Exports also have grown even faster to US$ 10.8 billion. So, this has been driven by strong growth in the domestic & international market. According to the Automotive Component Manufacturers Association of India (ACMA), this industry is expected to cross a turnover of US$ 100 billion by 2020.
Even the deregulation of FDI in this sector also attracts foreign companies to make large investments in India. Globalization also opening up newer ways for the transportation industry. It makes a shift towards electric, electronic and hybrid cars, which are more efficient, safe and reliable. The automobile industry is in transformation mode and leads to newer verticals and opportunities for auto-component manufacturers. By the end of 2025, the Indian auto components industry is set to become the third largest in the world.
About Multibagger Stock Amtek Auto
The Amtek Group is one of the largest integrated component manufacturers in India with a strong global presence. It has also become one of the world’s largest global forging and integrated machining companies. It manufactures Forging, Iron, and Aluminium Casting, Machining, and Sub-Assemblies. The Amtek Group is comprised of corporate entities Amtek Auto, JMT Auto, Amtek Global Technologies. It has many other subsidiaries and associates which make this group a giant one.
Products Folio of Multibagger Stock Amtek Auto
Flywheel Ring Gears: Amtek manufacture Ring Gears is one of the largest in the world and also having multi-location setup. Furthermore, its manufacturing lines are highly automated gives a wide reach into the Global Automotive Market.
Machining: Amtek also creates complex machining of a variety of engine, transmission & suspension components. Most of all it is one of the largest producers of Transmission Forks. In addition, it specializes in doing sub-assemblies with state of art facilities for producing connecting rods.
Forging: Amtek avail Screw Presses for up to 10 kg forgings and Hammers & Upsetters for up to 200 kg forging. It is also one of the largest forging manufacturers in small and medium component segment. In addition, Amtek is also equipped with independent tool room & CAD facility.
Casting Aluminium: Amtek also manufactures Gravity and High-Pressure Die Casting. It has highly qualified and experienced Human Resources Quality Systems
Casting Iron: The group manufacture very tight tolerances, intricate profiles, and reduced machining margins.
Technical Aspect of Multibagger Stock Amtek Auto
As on date the multibagger stock Amtek Auto is trading in a range of 35-37 and is consolidating for more than a year now and is on a verge to break out. You can expect near-term target at 65 where it may face resistance. Once it breaks the 65 level, it may hit 90 and if it holds above 90 then it will double your money very soon.
It has strong resistance at 190 and so trails your STOP LOSS. Furthermore, the next target will be around 290 and finally followed by 410. So, once it manages to cross 410, it may hit 485-490. Hence for the time being buy and hold the stock and keep STOP LOSS at 25 on a closing basis. Seems like the downside risk is not much, so just grab these multibagger stock Amtek Auto.
India is emerging as a global hub for auto component sourcing. So, keep these multibagger stock Amtek Auto in your portfolio for a long-term and easily gain 1385% return on your investment.
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Author: Ratan Kumar
Ratan Kumar, an enthusiast stock market trader & blogger. Forecasting stock market moves with the use of technical analysis since 2008. For the technical trader & investor, new or experienced, he provides legitimate and valuable advisory from day trading to long-term investment horizon and helped thousands of investors to make money out of stock market.