Amtek Group shares gain amid talk of stake sale buzz



Amtek Auto logo


  Shares of Amtek Group companies Amtek Auto, Castex Technologies and Metalyst Forgings have hit their respective maximum upper limit of the day, after media report suggested that Bain Capital, TPG Capital, DA Capital, and Piramal Enterprises are in the fray to buy a stake in the debt-ridden Amtek Auto.

Castex Technologies has locked in upper circuit of 20% at Rs 8, while Amtek Auto (Rs 28.15) and Metalyst Forgings (Rs 41.50) were frozen upper limit of 10% on BSE, with no sellers were seen on these counters.

“The Delhi-headquartered automobile component maker has received expressions of interest (EoIs) from 21 investors, including asset reconstruction companies,” the Business Standard report suggests. CLICK HERE TO READ FULL REPORT.

Meanwhile, Amtek Auto and Metalyst Forgings have called extra ordinary general body meetings (EGM) on July 7, to take shareholders nod for allotment of equity shares to M/s Assets Care & Reconstruction Enterprise, an Asset Reconstruction Company on preferential basis upon conversion of their loan into equity as per the terms of restructuring of outstanding loan of the proposed allottee.

  Price on BSE in Rs 52-week low   COMPANY LATEST PREV CLOSE GAIN(%) Price Date % chg* Castex Tech 8.00 6.67 19.94 5.25 19/06/2017 52.4 Amtek Auto 28.15 25.60 9.96 21.15 20/06/2017 33.1 Metalyst Forg. 41.50 37.75 9.93 32.5 20/06/2017 27.7               *% change over 52-week low