Amtek Auto shares surge 9.5% on buzz of asset sale

Shares of Amtek Auto surged 9.5 per cent today amid reports of asset sale of its German unit, although the company termed them speculative.
The stock soared 9.56 per cent to settle at Rs 47.55 on BSE. Intra-day, it gained 14.74 per cent to Rs 49.80 .
On NSE, it zoomed 9.56 per cent to Rs 47.55.
The companies market valuation rose by Rs 72.61 crore to Rs 1,047.61 crore.
Volume-wise, 72.93 lakh shares of the company changed hands at BSE and over 2 crore shares were traded at NSE during the day.
As per media reports, Musashi Seimitsu Industry Co and Bharat Forge are among companies weighing bids for the German unit of Amtek Auto.

Mahindra CIE Automotive and Bharat Forge have expressed interest in purchasing part of Amtek Auto's Indian operations, reports added.
Meanwhile, in a clarification to BSE, the company today said, it does not comment on the rumors and speculative market reports.
"We are not aware of any information that has not been announced to the exchanges which could explain movement of price," the filing added.