Money on the markets
A maturing market amid the mayhem
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.
Amtek Auto was the star performer in the auto index, with its shares surging nearly 16 percent. Its shares have jumped nearly 50 percent since July.