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Amtek Auto gets shareholders nod for merging group cos

Mumbai, Apr 06, 2009 (Asia Pulse Data Source via COMTEX) --

Companies: Ahmednagar Forgings Ltd (AHMGF), Amtek Auto Ltd (AKAUF), Amtek India Ltd (AEKIF)

Auto ancillary manufacturer Amtek Auto today said it will merge five of its group companies with itself with an aim to consolidate its business, following which the scrip of the firm surged 6.65 per cent on the Bombay Stock Exchange.

Shareholders of the company have approved the scheme of amalgamation of Amtek India, Ahmednagar Forgings, Amtek Ring Gears, Amtek Crankshafts India and Amtek Castings India with Amtek Auto, it said in a filing to the BSE.

Amtek Auto today closed at Rs 82.60, up 6.65 per cent, and Amtek India settled the day at Rs 31.90, up 2.24 per cent on the BSE.

Copyright (C) 2009 Asia Pulse Data Source. All rights reserved

News Provided by COMTEX

Companies: Ahmednagar Forgings Ltd (AHMGF), Amtek Auto Ltd (AKAUF), Amtek India Ltd (AEKIF)


Related terms: business, india, manufacturer, merger

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