Amtek Auto Skids Over 6% On Debt Default Fear

Posted By: Religare
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Shares of Amtek Auto extended loss over 6 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.

Amtek Auto Skids Over 6% On Debt Default Fear
Amtek Auto: Quotes, News
BSE 23.70BSE Quote0.8 (3.38%)
NSE 23.80NSE Quote0.75 (3.15%)

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.

Continuing its losing streak, the shares of the company dropped 6.36 per cent in intra-day trade to Rs 27.25 apiece on the BSE.

In a similar trend, shares of the company dipped 5.34 per cent to Rs 27.45 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 24,973.94, up 80.13 points, or 0.32 per cent, at 11:10 hours.

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