 "Amtek Auto surges on heavy volumes")
The non-convertible debentures matured on September 20, but as Amtek Auto was facing a "cash flow mismatch", it was unable to make repayments to its investors, Business Standard reported. (CLICK HERE FOR THE FULL REPORT)
Amtek Auto had raised Rs 800 crore through fiv-year NCDs, at a coupon rate of 10.5%, in 2010.
The stock opened at Rs 46.40 and touched a high of Rs 49.30 on the BSE. At 12:12pm, over 3.3 million shares were traded on the BSE against a two-week average of 2.2 million shares.
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