Stock market analysts have maintained ‘buy’ rating on Amtek Auto Ltd with an intraday target of Rs 199.

According to them, interested traders can purchase the stock around Rs 195-196 with a strict stop loss of Rs 191.50.

If the bourses remain on the positive track, then the stock price will hit a target above Rs 202.

Shares of the company, on Wednesday (Dec 02), closed at Rs 197.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 239.30 and a low of Rs 46.10 on BSE.

Current EPS & P/E ratio of the stock stood at 9.63 & 20.52 respectively.

Amtek Auto Ltd declared that the company’s board during its meeting held on December 02, 2009, inter alia, has suggested dividend to its equity stock holders at the rate of 25 percent for the fiscal 2008-09 i.e. Rs 0.50 per equity share of Rs 2/- each.

Amtek makes a broad variety of components for auto applications, specialized in transmission, engine & suspension systems.

The company’s clientele list comprises Hero Honda, TVS, Mahindra & Mahindra, Bajaj Auto, Maruti and Tata Motors.

The company also has presence in the United States and United Kingdom.