Amtek Auto saw a lot of enthusiasm in the stock movement on Friday, November 20, for some time before closing at Rs 44.60 (down by 0.34 percent). For some time, the stock was up by two percent on news that SSG Capital, a vulture fund, had stepped forward to buy the debentures of Amtek Auto which were subscribed by JP Morgan Mutual fund. The company had failed to honour the debentures due to which the fund faced serious problems. It had to remove the Amtek debt investment from its schemes – JP Morgan India Short Term Income Fund (JSTI) and JP Morgan India Treasury Fund (JTF) – in such a way that one set of investment or portfolio had the Amtek Auto investment while the other did not have it.
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