Shares of Amtek Auto nosedived over 13 per cent on Bombay Stock Exchange (BSE) amid reports that auto part maker may fail to pay Rs 800 crore to investors in the next two weeks.
According to Economic Times report, Amtek Auto will need to pay Rs 800 crore to investors in the next two weeks, when bonds sold by the company in 2010 mature, as beleaguered Amtek Auto may fail to reschedule its payments.
Reacting to the news, the shares of the company dropped 13.45 per cent in intra-day trade to Rs 28.35 apiece on the BSE.
In a similar trend, shares of the company dipped 8.54 per cent to Rs 30.00 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 25,137.92, down 63.98 points, or 0.25 per cent, at 13:15 hours.