 "Amtek Auto gains 4% as it moves closer to pare debt")
Shares of Amtek Auto gained nearly 4% on reports the debt-ridden auto-component maker has moved closer to pare its debt burden by the middle of 2017.
Reacting to the news report, the stock of the company rose as much as 3.8% to Rs 34.95 on the BSE.
Nearly 1 lakh shares exchanged hands on the counter on the BSE against two-week average of 2.3 lakh shares.
AMtek Auto has planned to cut three-fourths of its debt of Rs 13,500 crore by the middle of 2017, reported Business Standard. CLICK HERE FOR THE FULL REPORT
As much as Rs 10,500 crore is expected to come from the asset sale and an infusion of capital by overseas investors. The creditor banks may convert their loans into equity, it said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%