Shares of Amtek Auto gained over 14 per cent in trade on 08 Dec 2015

Shares of Amtek Auto gained over 14 per cent in trade on Tuesday following news reports that JP Morgan Asset Management Company (AMC) has sold the debt papers of the auto component maker to a private equity firm at a 15 percent loss. The stock ended the day 10.98 percent higher after gaining 14.10 per cent to Rs 53.00 intraday on the Bombay Stock Exchange (BSE). A total of 72.97 lakh shares changed hands in trade, compared with a two-week average of 18.73 shares on the BSE. The fund house managed to recover 80-85 per cent of its investment, and to the relief of investors, it has allowed them to make redemptions. ALSO READ: Arvind Dham's Amtek Auto swirls in financial crisis "Notice is hereby given to inform the unit holders of the units - segregated asset that the asset management company has sold the Segregated Asset in full on December 5, 2015, and this has resulted in realisation of the segregated asset, thereby providing liquidity in relation to the segregated asset," reported Business Standard citing JPMorgan's statement to the investors.
Shares of Amtek Auto gained over 14 per cent in trade on 08 Dec 2015 Shares of Amtek Auto gained over 14 per cent in trade on 08 Dec 2015 Reviewed by Money99 on 08:49:00 Rating: 5

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