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Amtek Auto Sinks 20% On Bond Repayment Default Buzz

By Super

Mumbai, Sep 22 (PTI) Shares of Amtek Auto plunged 20 per cent today amid reports that the company has missed payments on the Rs 800 crore worth of bonds that matured yesterday.

Reacting to this, shares of the company tumbled 19.94 per cent to Rs 41.55 on BSE. On NSE, the stock tanked 19.96 per cent to Rs 41.50.

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Amtek Auto Sinks 20% On Bond Repayment Default Buzz
Amtek Auto: Quotes, News
BSE 2.82BSE Quote0 (0.00%)
NSE 2.75NSE Quote0 (0.00%)

The auto component maker, which was to redeem the five- year bonds, did not make the payments, the reports added.

Meanwhile, BSE has sought clarification from Amtek Auto on the matter. The company had last month informed stock exchanges about a temporary cash flow mismatch.

The company's stock has been on the backfoot amid weak June quarter results, debt worries and exclusion from the futures and options segment.


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