Amtek Auto has appreciated by 4% to Rs 184 after the Swiss Finance Corporation (Mauritius) bought almost one per cent stake through a block deal on the BSE. The stock had opened at Rs 178 and has touched a high of Rs 185 on record volumes. As many as 10.5 million equity shares have changed hands on the BSE thus far, compared to a two-week average of 810,000 shares.
The foreign institutional investor purchased one million equity shares of the company at an average market price of Rs 177.90 per share for a total consideration of Rs 18 crore.
The company is a leading Indian supplier of automotive components and an integrated automotive component manufacturer of forgings, machining and sub-assemblies.