 "Amtek Group shares gain as board approves infusion of fresh capital by investors")
Shares of Amtek Group companies Amtek Auto, Metalyst Forgings and Castex Technologies were trading higher by up to 8% on BSE after the board of these companies approved the infusion of fresh capital by investors and restructuring of the debt as proposed by the investors.
A joint board meeting of all the companies - Amtek Auto, Metalyst Forgings, Castex Technologies and ARGL - was subsequently held where the approval of individual board was adopted.
The joint board further approved the proposal relating to infusion of fresh capital by new investors, restructuring and reduction of debt subject to the approval of lenders.
It also approved the process of monetization to support the restructuring and debt reduction of the company, subject to regulatory approval.
Among the individual stocks, Amtek Auto (Rs 42.85) and Metalyst Forgings (Rs 73.85) were up 7% each, while Castex Technologies up 8% at Rs 10.38 on the BSE. At 03:00 pm; the S&P BSE Sensex was up 1% or 271 points at 26,665.
A joint board meeting of all the companies - Amtek Auto, Metalyst Forgings, Castex Technologies and ARGL - was subsequently held where the approval of individual board was adopted.
The joint board further approved the proposal relating to infusion of fresh capital by new investors, restructuring and reduction of debt subject to the approval of lenders.
It also approved the process of monetization to support the restructuring and debt reduction of the company, subject to regulatory approval.
Among the individual stocks, Amtek Auto (Rs 42.85) and Metalyst Forgings (Rs 73.85) were up 7% each, while Castex Technologies up 8% at Rs 10.38 on the BSE. At 03:00 pm; the S&P BSE Sensex was up 1% or 271 points at 26,665.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%