Ahmednagar Forgings soars on stake hike by Amtek Auto
Amtek Auto, the promoter of the company has bought 1.80 million shares representing 4.90% of total equity of Ahmednagar Forgings at Rs 104.18 on the BSE.
Ahmednagar Forgings has soared 16% to Rs 124 in noon deals on BSE after the company said the promoter Amtek Auto increase its stake in the company by almost 8 percentage points through open market.
On April 18, 2013 Amtek Auto, the promoter of the company has bought 1.80 million shares representing 4.90% of total equity of Ahmednagar Forgings at Rs 104.18 on the BSE.
Amtek Auto has acquired these shares from Copthall Mauritius Investment and Warhol Limited through bulk deals for total consideration of Rs 18.75 crore.
Copthall Mauritius Investment Limited sold 1.6 million shares at Rs 104 and Warhol Limited sold 190,000 shares at Rs 105.70 on the BSE, the BSE bulk deal data shows.
Post acquisition, Amtek Auto’s total holding in Ahmednagar Forgings has increased to 67.78% from 59.88% earlier.
The stock opened at Rs 111 and has seen a combined 162,004 shares changing hands on the counter so far on BSE and NSE.
On April 18, 2013 Amtek Auto, the promoter of the company has bought 1.80 million shares representing 4.90% of total equity of Ahmednagar Forgings at Rs 104.18 on the BSE.
Amtek Auto has acquired these shares from Copthall Mauritius Investment and Warhol Limited through bulk deals for total consideration of Rs 18.75 crore.
Copthall Mauritius Investment Limited sold 1.6 million shares at Rs 104 and Warhol Limited sold 190,000 shares at Rs 105.70 on the BSE, the BSE bulk deal data shows.
Post acquisition, Amtek Auto’s total holding in Ahmednagar Forgings has increased to 67.78% from 59.88% earlier.
The stock opened at Rs 111 and has seen a combined 162,004 shares changing hands on the counter so far on BSE and NSE.