Amtek receives eight first-round bids, valuing Tekfor at up to 520 million euros
Amtek Auto surged 11% to Rs 50.30, while Mahindra CIE Automotive rallied 7% to Rs 206 on BSE in intra-day trade.
Amtek Auto and JMT Auto were up 6% each on the BSE.
The scrip tanked 6.46 per cent to Rs 41.25 on BSE
Company's stock was trading at Rs 42.75 on the BSE, down over 3 per cent from the previous close
The Amtek group is understood to owe about Rs 26,000 crore to 32 banks
The FPIs have almost doubled their stake in the company to 9.17% in the quarter ended June 30, against 4.77% as on March 31
Rollatainers is in talks with strategic foreign investors; deal expected to fetch Rs 100-150 crore
Foreign buyer for Tekfor; automaker plans to cut debt by $1bn in 12 months
Interview with Founder chairman, Amtek Auto
Investors are now looking at the net worth and profitability of a fund house and digging deeper into the credit profile of individual schemes before making an investment decision