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Shares of <a href="http://www.businessinsider.in/searchresult.cms?query=Amtek+Auto">Amtek Auto</a> Ltd., an ancillary for vehicle makers, was the top loser on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a> with very heavy volumes as investors exited the company on fears of a debt default. 
 <keyword id="120779" type="COMPANY" weightage="80" keywordseo="Amtek-Auto">Amtek Auto</keyword> slumped to its lowest level since October 2003. The stock was trading at 169 rupees on August 10th. It quotes at 34.25 rupees, down a whopping 30 percent, or 14.35 rupees. More than 2.75 crore Amtek shares were traded on the NSE versus a 5-day average of 62.8 lakh shares. 
 
Its group companies <a href="http://www.businessinsider.in/searchresult.cms?query=Metalyst+Forgings">Metalyst Forgings</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Castex+Technologies">Castex Technologies</a> remained under the bear grip as well. 
 
The Amtek group has been sitting on a debt pile of more than 15,000 crore rupees. Amtek Auto announced a disastrous set of quarterly numbers earlier in August, slipping in the red as sales in major geographies dropped. That prompted fears of a payment crisis on the financial costs side, leading to a sharp sell-off on the stock. 
 <keyword id="3008874" type="UNKNOWN" weightage="80" keywordseo="Metalyst-Forgings">Metalyst Forgings</keyword> dropped 2.4 rupees, or 5 percent, to 46.10 rupees. 4.61 lakh shares were traded versus 5-day average of 1.96 lakh shares. <keyword id="2907719" type="UNKNOWN" weightage="60" keywordseo="Castex-Technologies">Castex Technologies</keyword> fell 2.70 rupees, or 5 percent, to 52.10 rupees. 11,710 shares were traded versus the 5-day average of 5,470 shares 
 
The management has injected 75 crore rupees of its own funds into Amtek's equity capital, but that hasn't soothed investor nerves. 
 
Image credit: Indiatimes

Shares of Amtek Auto are the top loser on the National Stock Exchange. Know why

Shares of <keyword id="120779" type="COMPANY" weightage="100" keywordseo="Amtek-Auto">Amtek Auto</keyword> showed a shade of green for the first time in five days after the management said it would inject 75 crore rupees of equity on its own to partially offset a debt payment mismatch that saw the company's market cap erode as much as 64 percent in August. 
 Four days on intense selling abated on Amtek Auto and the stock jumped 6.5 percent to 67.85 rupees making it the top gainer on the <keyword id="145718" type="UNKNOWN" weightage="80" keywordseo="futures-and-options">Futures and Options</keyword> segment. A part of this gain could be attributed to short covering as traders buy back futures that they had sold earlier to square off the trade. Amtek's group companies weren't as lucky. 
 <keyword id="3008874" type="UNKNOWN" weightage="80" keywordseo="Metalyst-Forgings">Metalyst Forgings</keyword>, <keyword id="2907719" type="UNKNOWN" weightage="80" keywordseo="Castex-Technologies">Castex Technologies</keyword> and <keyword id="3011879" type="UNKNOWN" weightage="80" keywordseo="JMT">JMT</keyword> Auto all fell between 2.6 percent and 5 percent in Friday's deals. 
 
The Amtek group has been sitting on a debt pile of more than 15,000 crore rupees. Amtek Auto announced a disastrous set of quarterly numbers earlier in August, slipping in the red as sales in major geographies dropped. That prompted fears of a payment crisis on the financial costs side, leading to a sharp sell-off on the stock. 
 
Image credit: Indiatimes

Shares of Amtek Auto are rising for the first time in five days

Shares of debt-laden <keyword id="252427" type="COMPANY" weightage="100" keywordseo="Amtek-Auto-Ltd-">Amtek Auto Ltd.</keyword>, an auto ancillary maker, recovered from 6-year lows after the management issued a statement saying it was confident about the company's ability to navigate troubled waters. 
 
Amtek hit a low of 53.50 rupees in trade today, its worst level since February 2009. The stock subsequently recovered to quote at 68.10 rupees, still down 23.6 percent, soon after the statement. The stock had plunged nearly 33 percent yesterday on fears of a potential default on its debt pile of more than 17,000 crore rupees on the group level. 
 Amtek's subsidiaries remained under the bear grip. <keyword id="2907719" type="UNKNOWN" weightage="100" keywordseo="Castex-Technologies">Castex Technologies</keyword> was down 5 percent to 86.65 rupees. <keyword id="3008874" type="UNKNOWN" weightage="100" keywordseo="Metalyst-Forgings">Metalyst Forgings</keyword> lost 9.4 percent to 74.65 rupees and JMT Auto was down 5 percent at 111.95 rupees. 
 
Amtek has seen its market capitalisation plunge 71 percent to to 1,440 crore rupees in the past one year. The maximum damage has happened in the last one week after the company announced a disastrous set of quarterly numbers. 
 
(Image credits: Indiatimes)

Debt-ladden Amtek Auto finally recoveerd from 6 year lows

Debt-laden <keyword id="252427" type="COMPANY" weightage="100" keywordseo="Amtek-Auto-Ltd-">Amtek Auto Ltd.</keyword>, which recently reported a tepid set of quarterly earnings, lost nearly a third of its market capitalisation on reasons that weren't immediately clear. Group companies Metalyst Auto and <keyword id="1722399" type="UNKNOWN" weightage="100" keywordseo="JMT-Auto">JMT Auto</keyword>, too, plunged in trade. Futures of Amtek, whose debt exceeds 17,000 crore rupees, plunged 44.80 rupees, or 35 percent, to 83.30 rupees on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. 

	Recently, Amtek said it had a loss of 236.5 crore rupees in its third quarter compared with a profit of 114.7 crore rupees in the same period a year ago. Sales during April-June fell 18 percent to 866.3 crore rupees compared with 1064.4 crore rupees. Amtek added its financing costs nearly doubled to 157.6 crore rupees versus 86.1 crore rupees.
 Group companies <keyword id="3008874" type="UNKNOWN" weightage="100" keywordseo="Metalyst-Forgings">Metalyst Forgings</keyword> dropped 10 percent to 81.20 rupees and JMT Auto lost 5 percent to 116.95 rupees. 
	 
	(Image credits: Indiatimes)

Amtek Auto Ltd.'s debt issues reflected at the markets today

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Friday amid negative cues in global markets. </li><li>Realty, metal and auto stocks declined while FMCG and media stocks edged up. </li><li>Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points.</li></ul>Indian benchmark indices Sensex and Nifty50 edged lower in morning trade on Friday amid negative cues in global markets. Realty, metal and auto stocks declined while FMCG and media stocks edged up. Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.69% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.91% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.51% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.33% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.19% </td></tr></tbody></table> Source: NSE, as on April 21, 2023 Earlier on Thursday, markets snapped a three-day losing streak to close in the green, with Sensex gaining 0.11% and Nifty50 gaining 0.3%. <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> delivered its Q4 results on Thursday, with results in line with analyst expectations. While its attrition cooled down in line with that of its peers TCS and Infosys, it also guided for 6-8% revenue growth, nearly half of its FY23 growth of 13.7%. <cmsannotation type="cmsannotation" annotationid="Global markets in the red" comment="subhead" text="Global markets in the red">Global markets in the red</cmsannotation> Markets in the US closed in the red on Thursday, with Dow Jones declining 0.33% while S&amp;P 500 fell 0.6%. The tech-heavy Nasdaq was down 0.8%. Asian markets were largely in the red, too, on Friday morning. KOSPI declined the most at 0.72%, while Hang Seng was a close second with a fall of 0.67%. Shanghai Composite was down 0.54%, while Taiwan Weighted was down 0.24%. Nikkei 225 was flat. Gold prices edged up a little to INR 60,508 per 10 grams ahead of the auspicious occasion of Akshay Tritiya which sees an increase in purchase of the yellow metal. Crude oil prices continued to cool down, with Brent crude now hovering around the $81 per barrel level. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> HCL Technologies: The IT company’s revenue grew 13.7% in FY23 in constant currency terms and also met its FY23 revenue forecasts as it had guided it to be anywhere between 13.5-14%. Its operating margin fell sharply in Q4 to 18.1% in Q4 from 19.6% in Q3. ICICI Life Insurance: The insurer has reported a 27% growth in net profit at ₹235 crore as compared to ₹185 crore in the previous year period aided by a strong growth in value of new business. <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword>: Billionaire Anil Agarwal owned company has pledged 2.44% stake in group company <keyword id="115997" type="General" weightage="80" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword> to raise ₹1,500 crore as it is struggling to meet its debt obligations. With this, Vedanta’s pledged shares in Hindustan Zinc rose to 91.35% or about 59.3% of the company’s overall shares. Rail Vikas Nigam: The consortium of the company and Siemens received two separate orders from Gujarat Metro Rail for phase 1 of Surat Metro and phase 2 of Ahmedabad metro. Earnings today: Reliance Industries, Hindustan Zinc, Aditya Birla Money, Tejas Networks, Bheema Cements, Metalyst Forgings among companies to report March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-projects-its-revenue-to-grow-between-6-8-in-fy24/articleshow/99644337.cms">HCL Tech projects its revenue to grow between 6-8% in FY24</a> <a href="https://www.businessinsider.in/finance/news/here-are-the-many-ways-you-can-invest-in-gold-this-akshaya-tritiya/articleshow/99635639.cms">Here are the many ways you can invest in gold this Akshaya Tritiya</a> <a href="https://www.businessinsider.in/business/corporates/news/sbi-icici-bank-ongc-tata-motors-bpcl-will-drive-niftys-earnings-in-q4-2022-23/slidelist/99632153.cms">5 companies that will drive Nifty’s earnings in Q4</a>

Sensex, Nifty50 edge lower amid negative global cues: Realty, metal and auto stocks decline

<keyword id="178704" type="UNKNOWN" weightage="20" keywordseo="cash-markets">Cash markets</keyword> are showing first strong signs of widespread buying at lower levels on Thursday after 7 days of relentless selling across the boards. Some brave investors are making efforts to sift through the debris of this global carnage to buy into juicy valuations. Here is a snapshot of what is happening in the cash markets. 
 <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> surges 1.9 percent to 7,936 points 
CNX 100 Index jumps 2% to 8,088 points 
CNX 200 adds 2% at 4,177 points 
CNX MidCap surges 2.4% to 13,058 pts 
 
Bank Nifty adds 1.4% to 17,151 pts 
CNX Pharma jumps 2.5% to 12,933 pts CNX <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword> gains 1.8% to 20,044 pts 
 
NIFTY GAINERS 
HDFC 
Cairn 
Vedanta 
Bank of Baroda 
 
NIFTY LOSERS <keyword id="6354446" type="CITY" weightage="80" keywordseo="BHEL">BHEL</keyword> 
Bajaj Auto <keyword id="45179" type="CITY" weightage="80" keywordseo="NTPC">NTPC</keyword> 
TCS 
 
VOLUME GAINERS 
Hathway Cable 
Thiru Arooran Sugars 
Ucal Fuels 
Zen Tech 
 
NEW HIGHS 
8K Miles Software 
Jubilant Industries 
La Opala 
 
NEW LOWS 
Andhra Cements 
IVRCL 
Metalyst Forgings 
Rei Agro 
 
ADVANCE-DECLINE RATIO 
NIFTY: 44/6 
SENSEX: 25/5 
FUTURES &amp; OPTIONS: 148/22 
BROADER MARKET: 1,854/639 
 
 Image credit: Indiatimes

At a glance: Here's how the cash markets look today

The main indices shifted into a sideways trading zone on Tuesday after three days of a strong uptrend, as traders preferred to book profit in a market that has gained nearly 8 percent in the past 5 sessions. Here is a snapshot of the cash market on the National Stock Exchange post noon. 
 
BENCHMARK INDICES <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> edged 4 points higher to 8,123 points <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> rose 40 points to 26,826 points 
 
BROADER INDICES 
CNX Small Cap Index rose 0.6% to 5,374 points 
CNX Mid Cap Index added 0.45 to 13,324 points 
 
SECTORAL INDICES <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> fell 0.7% to 17,555 points 
CNX Finance down 0.7% to 7,209 points 
CNX Pharma surged 1.3% to 13,316 points 
CNX Metals rose 1% to 1,720 points. 
 
TOP NIFTY GAINERS <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> 
Cipla 
Idea 
 
TOP NIFTY LOSERS 
BHEL 
Infosys 
UltraTech Cement 
 
TOP TRADED ON NSE 
Tata Motors 
Infosys 
Axis Bank 
 
 
TOP VOLUME BUZZERS 
Metalyst Forgings 
SKF India 
Dredging Corp 
 
52 WEEK HIGHS 
Ceat 
Dishman 
Arvind Infrastructure 
 
ADVANCE-DECLINE RATIOS 
 
NIFTY: 25/25 
SENSEX: 19/11 
FUTURES: 81/82 
BROADER MARKET: 1,396/1,076 
 
(Image credits: Indiatimes)

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