Amtek Auto up 6% on NSE block deal
Shares of auto parts maker Amtek Auto jumped over 6 per cent after 2 million shares, or about 1.4 per cent of its equity, changed hands in a block deal on the National Stock Exchange. Details of buyers and sellers were not immediately available.
By ET Online |
MUMBAI: Shares of auto parts maker Amtek Auto jumped over 6 per cent after 2 million shares, or about 1.4 per cent of its equity, changed hands in a block deal on the National Stock Exchange. Details of buyers and sellers were not immediately available.
At 10:30 am, shares of Amtek Auto eased from a high of Rs 264.10 and were trading at Rs 260, up 3.9 per cent.
In a regulatory filing on Wednesday, Amtek Auto said that its subsidiary Amtek Transportation Systems has formed a 50:50 joint venture company with US-based American Railcar Industries to make railcars in India.
Amtek Transportation Systems and ARI plan to start constructing the facility in the second half of 2008 with production expected to begin in the third quarter of 2009.
The joint venture will produce railcars and component products for sale in other specific countries in South East Asia and the Middle East.
At 10:30 am, shares of Amtek Auto eased from a high of Rs 264.10 and were trading at Rs 260, up 3.9 per cent.
In a regulatory filing on Wednesday, Amtek Auto said that its subsidiary Amtek Transportation Systems has formed a 50:50 joint venture company with US-based American Railcar Industries to make railcars in India.
Amtek Transportation Systems and ARI plan to start constructing the facility in the second half of 2008 with production expected to begin in the third quarter of 2009.
The joint venture will produce railcars and component products for sale in other specific countries in South East Asia and the Middle East.
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