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Amtek Auto To Sell Minority Stake In Some Assets: Stock Gains 18 Per cent
Shares of the Amtek Auto rose more than 18 per cent on Monday after the company said that it is considering to sell some minority stake in some overseas business.
The company also clarified that it is looking to sell select Industrial Plants, Negotiations going on Promoters may pump more money into the company.
" As of date the Company is considering various means to de-leverage the balance sheet including selling of noncore business, minority stake in overseas companies and some industrial real estate assets within the business", the company said in the BSE press release.
However, as on date, no negotiations are carried on. If any positive developments takes place, the same will be intimated to the exchange as per the requirement of the listing agreement, it added further.
Shares of the company was seen trading at Rs 55.60 on BSE at 1.55 pm IST. It touched an intra-day high of Rs 57.90 during the trade.
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