The investors has made a significant investment in the group, said John Flintham, Vice Chairman of Amtek Auto. The company did not disclose name of the investor.
In an interview to CNBC-TV18's Anuj Singhal and Sonia Shenoy, SP Tulsian of sptulsian.com shared his reading and outlook on the market and also gave recommendations on various stocks.
On Friday after market hours, the auto component manufacture said it is considering various means to de-leverage the balance sheet including selling of non-core business, minority stake in overseas companies and some industrial real estate assets within the business.
2010, which made up a big portion of FY11, was the year of the tiger. And the taxman has not only shown his claws and fangs, he's used them to good effect. CNBC-TV18's Ashwin Mohan reports.
The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow, for alleged tax evasion pursued by Kanakia Group, reports CNBC-TV's Ashwin Mohan quoting sources.
I-T department has conducted pan-India raids on Amtek Group. I-T department has covered Amtek Auto and Amtek India in raids. These raids have conducted on basis of alleged suppression of income, quoting Sources, reports CNBC-TV18.