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Amtek Group shares extend rally ahead of board meet

 

Amtek Group shares extend rally ahead of board meet

  Shares of Amtek Group companies Metalyst Forgings, Castex Technologies and Amtek Auto have rallied by up to 17% in intra-day trade on BSE ahead of board meeting on Wednesday to consider the proposal of infusion of fresh equity by the new investors and restructuring of these companies as proposed by investors.

The board of directors of Amtek Group companies will meet on November 30, 2016, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the company as proposed by investors.

A joint meeting of board of directors of Amtek Auto, Metalyst Forgings, Castex Technologies and ARGL is also being convened to discuss the outcome of the individual board meeting and deliberate on the infusion of fresh equity by the new investors and restructuring as proposed by investors, these companies said in a regulatory filing.

Among the individual stocks, Metalyst Forgings has surged 17% to Rs 75.90 on BSE in intra-day trade.

At 02:13 PM; it was up 14% at Rs 74.25, rallied 37% in past two trading sessions. Castex Technologies and Amtek Auto rallied 33% and 17%, respectively, during the period.

Company 24/11/2016 LTP % chg Amtek Auto 34.80 40.90 17.53 Metalyst Forg. 54.20 74.20 36.90 Castex Tech 7.51 9.98 32.89