Amtek Auto shares made a strong comeback on Friday rising sharply by 15 per cent intraday after suffering heavy losses in the last four days.
However, the share price price of the company closed 0.86 per cent higher at Rs 64.30. It opened at Rs 59.50 and touched a high and low of Rs 71.75 and Rs 59.10, respectively, on Friday.
Experts said that value-buying at lower levels propelled buying at the counter.
In last two days, the stock had fallen by 60 per cent following news of exclusion of the company’s futures and options (F&O) contracts from equity derivatives segment, with effect from October 30.
Prior to that, the stock saw intense selling on weak June quarter results.
In a BSE filing on Thursday, the company said: “Apart from exclusion of shares of the company from futures and option (F&O) segment, we are not aware of any reasons of the significant single day fall in the stock price.”