Amtek Group shares extend fall

Castex Technologies, JMT Auto and Metalyst Forgings have hit their lower circuit with no buyers seen on the counters.

Shares of Amtek Group companies are continued reeling under pressure and trading at their multi-year lows on the bourses.

Three group companies - Castex Technologies (down 5% at Rs 46.5), JMT Auto (5% at 63.55) and Metalyst Forgings (5% at Rs 41.60) have hit their lower circuit with no buyers seen on the counters. The market value of all these stocks has declined by more than 50% from their 52-week highs.

Amtek Auto has dipped 13% to Rs 28.35 in intra-day trade on the BSE.  In past one-month the stock tanked 81% from Rs 166 compared to 11.3% fall in the S&P BSE Sensex.

At 10:54 AM, the stock was down 5.8% at Rs 30.85. The counter has seen huge trading volumes with a combined 16 million shares changed hands so far compared to an average sub 22 million shares that were traded daily in past two weeks on the BSE and NSE.

The foreign institutional investors (FIIs) sold nearly six million equity shares representing 2.5% of the total equity of Amtek Auto through open market transaction.

On September 4, Goldman Sachs Investment Mauritius sold 1.64 million shares of Amtek Auto at Rs 27.64 per share, the NSE bulk deal data shows.

On September 3, the Swiss Finance Corporation (Mauritius) sold 2.74 million shares at Rs 35.88 per share, while Barclays Capital Mauritius sold 1.22 million shares at Rs 36.50 per share on the NSE.

Company	LTP	% chg*	52-week high	% chg#
Metalyst Forgings	41.60	-5.0	519.80	-92.00
Amtek Auto	30.85	-5.8	266.00	-88.40
Castex Technologies	46.95	-5.0	362.00	-87.03
JMT Auto	63.55	-5.0	146.00	-56.47
LTP : Last traded price at 10:54 AM on BSE
*Change over previous close
#Change over 52-week high