What will happen to my Amtek Auto shares?
Table of Contents
Amtek Auto has received both stock exchanges namely BSE and NSE approval for delisting its equity shares according to the resolution plan that has been approved by NCLT under Insolvency and Bankruptcy Code, 2016. The company will be delisted from stock exchanges with effect from September 27, 2021.
Why does Amtek Auto fail?
The real problem came due to the debt that Amtek had assumed to finance all these acquisitions. Therein lay the problem; because Amtek was increasingly finding it difficult to service these loans. That, in a way, was the beginning of the problems at Amtek Auto. The demand slowdown came in different forms.
Who is buying Amtek Auto?
fund Deccan Value Investors
Mumbai: US hedge fund Deccan Value Investors (DVIL) has transferred Rs 500 crore, the amount of cash required to complete the acquisition of bankrupt auto parts maker Amtek Auto.
This usually happens when important news is pending that is likely to affect the stock price. The company feels that it is its responsibility to halt trading in the stock until the news is published so that investors can make informed buy and sell decisions based on new information. A trading halt can last for a day.
What happened to Castex technologies?
Net Loss of Castex Technologies reported to Rs 131.06 crore in the quarter ended March 2020 as against net loss of Rs 153.21 crore during the previous quarter ended March 2019. Sales declined 29.95\% to Rs 69.08 crore in the quarter ended March 2020 as against Rs 98.62 crore during the previous quarter ended March 2019.
How do you sell the stock which is not trading?
How do you sell shares that are not traded anymore? The answer is simple; You may end up holding the shares until you find a buyer through the stock exchange route. This means you wait someday for volumes to emerge or the shares getting listed back to trade again.
What if you want to sell stock but no one wants to buy?
When there are no buyers, you can’t sell your shares—you’ll be stuck with them until there is some buying interest from other investors. Usually, someone is willing to buy somewhere: it just may not be at the price the seller wants. This happens regardless of the broker.
Is Amtek Auto case a case of inefficiency?
In case of Amtek Auto, all group companies reek of inefficiency. Some are facing SEBI’s probe for stock price rigging just before conversion of FCCBs, followed by a crash. The case of Amtek Auto has called into question the operations of some of the renowned mutual funds.
Why should I avoid Amtek shares?
Most importantly, due to lack of management response to queries raised. The company and the Amtek group is highly debt ridden and expected to default on debt payments. There are allegations regarding price rigging of the stock in case of one of the group’s companies. Operating performance has been poor.
Why choose Amtek Auto Ltd?
Amtek Auto Ltd is engaged in the manufacture of components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links.
How many countries does Amtek operate?
It has world-class facilities across India, Japan, Thailand, Germany, Hungary, Italy, Romania, UK, Brazil, Mexico and US. The Amtek Group is comprised of corporate entities Amtek Auto, JMT Auto, Amtek Global Technologies and other subsidiaries and associates.