Amtek Auto gives up most of early gains; up over 1% at close

Giving up most of its early gains on profit-booking, Amtek Auto shares ended over 1 per cent higher after suffering heavy losses in the last four days.
After surging 12.54 per cent to Rs 71.75 intra-day at BSE, shares of the firm finally ended at Rs 64.30 up 0.86 per cent.
On NSE, the stock was up 1.25 per cent to close the day at Rs 64.35. Profit-booking and weak broader market pulled down the stock from its initial highs.
In terms of volume, 59.85 lakh shares of the company changed hands at BSE and over two crore shares were traded at NSE during the day.

In last two days, the stock had fallen by 60 per cent following news of exclusion of the company's futures and options (F&O) contracts from equity derivatives segment, with effect from October 30.
Prior to that, the stock saw intense selling on weak June quarter results.

In a BSE filing yesterday, the company said: "Apart from exclusion of shares of the company from futures and option (F&O) segment, we are not aware of any reasons of the significant single day fall in the stock price."
Weak June quarter results, debt worries and announcement of the stock's exclusion from futures and options segment haunted investors since last four days.

The company also clarified to media reports that Amtek Auto shares are down around 70 per cent in a month on debt worries, saying, "There is temporary cash flow mismatch in the company and to mitigate the present situation, promoters have already infused Rs 750 million and if required will also infuse more funds in future. The company is also exploring various means of fund raising."
In the broader market, the benchmark BSE Sensex ended at 27,366.07, down 241.75 points.