Amtek Auto crashes 11.5% on bond repayment default talk

Shares of Amtek Auto plummeted 11.5 per cent today amid reports that the company has missed payments on the Rs 800 crore worth of bonds that matured yesterday.
After falling sharply by 19.94 per cent to Rs 41.55 in intra-day trade on BSE, the stock ended at Rs 45.95, down 11.46 per cent.
On NSE, it tumbled 11.57 per cent to Rs 45.85 at close.
The company's market valuation fell Rs 130.64 crore to Rs 1,012.36 crore.
On the volume front, 71.74 lakh shares of the company changed hands at BSE and over 2.9 crore shares at NSE during the day.

The auto component maker, which was to redeem the five- year bonds, did not make the payments, media reports said.

Meanwhile, BSE has sought clarification from Amtek Auto on the matter.
The company had last month informed stock exchanges about a temporary cash flow mismatch.
The stock has been on the backfoot amid weak June quarter results, debt worries and exclusion from the futures and options segment.
In the stock market, the BSE Sensex plunged 541.14 points to settle at 25,651.84.