Amtek shares surge 11% on buzz JP Morgan recovers 85% dues

Shares of Amtek Auto surged almost 11 per cent on heavy volumes today, defying an overall weak broader market trend, amid reports that fund house JP Morgan has recovered 85 per cent of the company's bond dues.
The stock jumped 10.98 per cent to settle at Rs 51.55 on BSE. During the day, it soared 14.96 per cent to Rs 53.40.
At NSE, shares of the company zoomed 10.97 per cent to Rs 51.55.
The company's market valuation rose by Rs 92.74 crore during the day to Rs 1,135.74 crore.
Volumewise, 91.16 lakh shares of the company changed hands at BSE and over 3 crore shares were traded at NSE during the day.

As per media reports, JP Morgan has managed to sell Amtek Auto bonds it had, recovering about 85 per cent of what it invested.
"Shares of Amtek Auto remained in limelight today after the shares traded with high volumes after market reports that JP Morgan has recovered 85 per cent dues of the ailing auto maker," said Achin Goel, Head: Wealth Management & Financial Planning, Bonanza Portfolio Ltd.
Meanwhile, in the broader market, the benchmark BSE Sensex suffered a loss of 219.78 points to settle at 25,310.33.