Amtek Auto tanks over 30% on F&O exclusion

The NSE has decided to remove the stock from the F&O segment with effect from October 30, 2015.

Shares of Amtek Auto have tanked by 37% to Rs 80.75, also their 52-week lows on the National Stock Exchange (NSE) after the exchange decided on Tuesday to remove the stock from F&O segment with effect from October 30, 2015.

“Contracts for new expiry months in Amtek Auto will not be issued on expiry of existing contract months,” NSE said in a circular dated August 18, 2015.

However, the existing unexpired contracts for expiry months August 2015, September 2015 and October 2015 would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months, the exchange said.

Accordingly, no contracts shall be available for trading in the above mentioned security with effect from October 30, 2015, the exchange added.

Meanwhile, the stock plunged 46% in the past three trading sessions from Rs 150 on August 14, after the company reported a net loss of Rs 158 crore for Q1FY16 against a profit of Rs 86 crore in the same quarter a year ago.

At 03:24 PM, the stock was down 35% at Rs 83.50 on the NSE. A combined 19.47 million shares representing 8.85% of total equity of Amtek Auto have changed hands on the counter on the NSE and BSE so far.