Amtek Auto shares bounce back; surge 15% on value-buying

Amtek Auto shares made a strong comeback today rising sharply by 15 per cent after suffering heavy losses in the last four days.
The stock surged 12.54 per cent to Rs 71.75 at BSE while on NSE it gained 14.94 per cent to Rs 73.05.
Experts said that value-buying at lower levels propelled buying at the counter.
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.