Amtek climbs 2%, JMT slips 5% as Amtek pledges 71% stake in group co to ITCL

NEW DELHI: Shares of Amtek Auto gained about 2 per cent on the BSE in Thursday's trade after the auto component maker pledged its entire stake of nearly 71 per cent in group firm JMT Auto with IL&FS Trust Company (ITCL).

The scrip of group company JMT Auto slipped 5 per cent to hit a low of Rs 86 on the BSE. Amtek Auto pledged 18,07,06,100 shares of JMT Auto, constituting 71.73 per cent stake, with the ITCL on December 29, the company said in a regulatory filing.

In 2013, Delhi-based Amtek Auto had acquired controlling stake of JMT Auto, thus bringing it under the Amtek Group umbrella.