AMTEK GROUP STOCKS PRICE MISMATCH
CASTEXTECH (236) - Posted on 25th May and said target and top out 230-240 ,when it was trading at 154 , even though, that time, it came from the low of 40 to 154, that to non-stop, But the top out target attacked yesterday , yesterday it was upper freeze at 236.
now the thing is
AMTEKAUTO (159) have three listed subsidiary ( holding % in bracket) that includes CASTEXTECH (71%) , JMTAUTO (72%) and METALFORGE (49%)
as on 30th June 2015 the followings are the total market capital value and its % holding value of its subsidary
CASTEXTECH -- 6569 cr - & 4670 Cr
JMTAUTO --- 1270 cr & 914 Cr
METALFORG -- 460 cr & 225 Cr
so total holding value 5809 Cr. whereas AMTEKAUTO value as on 30th June -- 3507 Cr
that means , at present, as on 30th June Closing price of 159 , this stock, market capital is valued at negative value of 2302 Cr.
Now the unresolved question is why is this kind of mismatched valuation in market ?
market only can give answer to the above mentioned question in the coming days/weeks/months
AMTEKAUTO levels are
Upper resistance 170--180
Downside Support 130--120
Above the resistance or below that support expect a big movement.