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Amtek Auto shares today bounced back on reports of asset sales.
The stock surged as much as 14.75 per cent and was heading towards its biggest single day gain since September 11 2015.
It also marked its highest one-day volumes since September 22.
Musashi Seimitsu and Bharat Forge were weighing bids for German unit of Amtek Auto, says Bloomberg.
Amtek Auto is seeking a valuation of more than $800 million for its Amtek tekfor holding GMBH unit, says Bloomberg, citing sources.
Mahindra CIE Automotive and Bharat Forge have both expressed interest in purchasing part of Amtek Auto’s Indian operations, it says, citing sources.
The company had in November said it appointed Morgan Stanley to advise on debt reduction.
Reuters in October had reported Amtek is seeking to sell German unit Tekfor which has sales of more than $554 million.
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