JMT Auto shares fell nearly 5 per cent in the early trade on Thursday after the company on Wednesday said that troubled auto components maker Amtek Auto has pledged its entire stake of nearly 71 per cent in the company with IL&FS Trust Company (ITCL) on December 29.
At 9.53 am, shares of JMT Auto were trading nearly 4.97 per cent down at Rs 86 on BSE. The scrip opened at Rs 88.50 and had touched a high and low of Rs 88.50 and Rs 86, respectively, in trade so far.
On the other hand, Amtek Auto shares were trading 1.10 per cent up at Rs 50.50 on BSE. Sensex was marginally up 12 points at 25,971.
Amtek Auto has pledged 18,07,06,100 shares of JMT Auto, constituting 71.73 per cent stake, with the ITCL on December 29, JMT Auto on Wednesday said in a regulatory filing.
(With agency inputs)