Amtek Auto

Mutual funds can limit redemption in crisis situations

The Securities and Exchange Board of India (Sebi) has directed that restrictions on redemptions from mutual funds may be imposed when there are circumstances leading to systematic crises that constricts market liquidity, repo

Amtek Auto in parleys with equity investors

The management of debt-laden auto-component maker Amtek Auto is in talks with financial investors to get equity investments into the troubled company.

Amtek Auto reports net loss of Rs.529 crore

Troubled auto-component maker Amtek Auto on Monday reported a net loss of Rs.528.7 crore for the quarter ending March, compared to a net profit of Rs.129.8 crore in the same period last year.

amtek auto

Amtek Auto shares tank 11 per cent on Q3 results

Amtek Auto shares tanked as much as 11 per cent on Friday after the company reported net loss of Rs 132.15 crore for the quarter ended December 31, 2015

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Amtek Auto pledges 71% stake in JMT Auto with IL&FS Trust Co

Troubled auto components maker Amtek Auto has pledged its entire stake of nearly 71 per cent in group firm JMT Auto with IL&FS Trust Company (ITCL).

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BHEL share price closed 2.61 per cent up at Rs 168.95 after the Heavy Industries & Public Enterprises Minister Anant Geete said that the government has no plans to divest part of its holding in the company.

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Amtek Auto to slash workforce, combine several operations to cut costs

Amtek Auto has total workforce of 16,000 in India, which includes employees at its various subsidiary firms.

amtek auto

Amtek Auto to slash workforce, combine several operations to cut costs

Amtek Auto has total workforce of 16,000 in India, which includes employees at its various subsidiary firms.

amtek auto

Amtek Auto share price fall over 4% after posting net loss of Rs 987 cr

Amtek Auto share price fell as much as 5.62 per cent in the early trade on Monday after the company on Saturday reported a consolidated net loss of Rs 987 crore for the year ended September against a net profit of Rs 848.21 c

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Amtek Auto shares jump 12% on debt reduction plan

Amtek Auto shares jumped as much as 12 per cent in the morning trade on Tuesday after the company informed BSE that it has appointed Morgan Stanley as advisors to assist in the group’s debt reduction plan.

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Amtek Auto ropes in Morgan Stanley as advisors to pare debt

Amtek group is understood to owe over Rs 26,000 crore to 32 banks, including State Bank of India, ICICI Bank, Axis Bank, Bank of Baroda, Bank of India, IDBI Bank, Bank of Maharashtra and UCO Bank.

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Amtek Auto seeks to sell German unit Tekfor: Sources

Amtek has appointed Morgan Stanley to organise the sale of the maker of driveline components formerly known as Neumayer Tekfor, just two years after buying it out of an insolvency, the sources said.

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Special audit report on Amtek Auto likely by next week: Bankers

Lenders to the crisis-ridden Amtek Auto will soon decide on a corrective action plan (CAP) based on a special audit report likely to be submitted in the coming week.

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Amtek Auto pledges additional 4.37% in Castex Technologies

Debt-ridden Amtek Auto has pledged an additional 4.37 per cent stake in its subsidiary Castex Technologies towards short-term borrowing needs.

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JP Morgan gets unitholders nod to split funds with Amtek Auto exposure

J.P Morgan Asset Management Company (AMC) has received the approval from majority of their unitholders to segregate illiquid assets from J.P Morgan India Treasury Fund and J.P Morgan India Short Term Income Fund.

JP Morgan

Amtek Auto shares decline 20% on bonds redemption default buzz

Amtek Auto shares fell as much as 19.9 per cent in the opening trade on Tuesday on media reports that the company had missed payments on the Rs 800 crore worth of bonds that matured on Monday.

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Stocks that made news today: Motherson Sumi, Amtek Auto and more

Amtek Auto shares plunged 11.46 per cent on reports that the company has missed payments on the Rs 800 crore worth of bonds that matured on Monday.

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Amtek Auto delays bond repayments

With a clutch of lenders reportedly not having finalised a line of credit to Amtek Auto, the auto components player is understood to have delayed repayments to its bondholders...

Motherson Sumi

S&P cuts Amtek Global’s credit ratings on parent firm’s woes

Standard & Poor's has cut the long term credit rating of Amtek Global, reflecting the "heightened liquidity risks" at its parent company Amtek Auto that is facing financial troubles.

Motherson Sumi

Sebi widens probe into mutual funds’ distressed debt exposure

Amid rising concerns over mutual fund investors' exposure to distressed corporate bonds, regulator Sebi has widened its probe and has sought fresh details from the fund houses on such investment decisions.

Amtek Auto shares gain over 13% on assets selling reports

Amtek Auto shares surged over 12 per cent in the early trade on Monday after the company informed BSE that it is considering various means to de-leverage the balance sheet.

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Lenders to Amtek Auto form JLF with Rs 6,500 crore loans in limbo

Lenders to Amtek Auto have formed a joint lenders’ forum (JLF) to formulate a corrective action plan (CAP) for its Rs 6,500-crore term loans, sources told FE, adding that the JLF will also decide on the company's request fo

Lenders order special audit of Amtek Auto books

Lenders to the crisis-ridden Amtek Auto Group have decided to conduct a special audit of its books before taking a call on extending further loans to the Delhi-based auto component maker, according to banks.

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Amtek Auto shares surge 75% after management clarifies on debt

Amtek Auto shares soared as much as 75 per cent intraday on Friday on reports that the company may look to sell stakes in overseas business to shed debt.

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Amtek Auto, Castex Technologies shares plunge on Sebi probe

Shares of Amtek Auto plunged 9 per cent, while that of its subsidiary Castex Technologies lost 5 per cent on Thursday after market regulator Sebi began a probe into alleged manipulation of the latter's stock price.

SEBI

JP Morgan bought Amtek Auto’s ‘risky’ bonds from Axis Bank

Both funds of the firm had no exposure to money market bonds of Amtek Auto till December 2014.

JP Morgan

Amtek Auto’s subsidiary Castex Tech comes under Sebi lens

As a crisis continues at Amtek Auto, markets regulator Sebi has begun a probe into alleged share price manipulation at its listed subsidiary Castex Technologies through forced conversion of foreign bonds.

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