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Amtek India rises on open offer

May 28, 2010

Shares in Amtek India pared early gains of over 10 percent on Friday to close 3.5 percent up.

The jump followed Amtek Auto Ltd’s announcement that it had bought 26.25 percent stake in group firm Amtek India.

Amtek Auto bought the stake through several block deals on the Bombay Stock Exchange at an average price of 64.83 rupees a share.

Amtek India was the top traded stock on BSE with volumes of over 35 million shares, while Amtek Auto ended 3.07 percent higher.

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