Mumbai: Shares of Castex Technologies Ltd hit the upper circuit on Monday, totalling a gain of 155% in the last 19 sessions. Amtek Auto rose for the fifth consecutive session and gained 13.7%, Metalyst Forgings Ltd jumped for the third consecutive session and gained 72.53% in this period, JMT Auto Ltd gained for the fourth consecutive session and rose 8.23%, while Rollatainers Ltd gained for the third consecutive session and gained 9.33%. Close to 23 banks have an exposure of Rs.4,850 crore in Castex Technologies, which reported a net loss of Rs.466 crore in fiscal year 2015-16. Banks will take control of two subsidiaries of Amtek Auto that defaulted on bond repayment last year. Lenders have agreed in principle to take control of Castex Technologies and Metalyst Forging—the two listed subsidiaries of the auto component maker, The Economic Times reported, citing sources from banking circles.

Source: Mint July 25, 2016 09:46 UTC