Shares of Amtek Auto fell over 10 per cent on National Stock Exchange (BSE) a day after the company defaulted on Rs 800 crore worth of bond payment. The default raised risks of adding nearly Rs 8,000 crore potential bad loans to the Indian banking system, if the company does not repay them quickly, said three persons familiar with the developments.
Following the development, shares of company dropped 10.40 per cent in intra-day trade to Rs 46.50 apiece on the BSE.
In a similar trend, shares of the company dipped 10.51 per cent to Rs 46.40 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 26,261.98, up 69 points, or 0.26 per cent, at 11:13 hours.