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Force Motors rises on getting nod to enter into JV with MTU Friedrichshafen GmbH

20 Mar 2018 Evaluate

Force Motors is currently trading at Rs. 2815.05, up by 32.85 points or 1.18% from its previous closing of Rs. 2782.20 on the BSE.

The scrip opened at Rs. 2783.10 and has touched a high and low of Rs. 2924.00 and Rs. 2781.00 respectively. So far 30391 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 4810.00 on 06-Apr-2017 and a 52 week low of Rs. 2741.00 on 19-Mar-2018.

Last one week high and low of the scrip stood at Rs. 2924.00 and Rs. 2741.00 respectively. The current market cap of the company is Rs. 3702.46 crore.

The promoters holding in the company stood at 61.06% while Institutions and Non-Institutions held 8.73% and 30.21% respectively.

Force Motors’ board has given necessary approvals, in respect of the investment in and promotion of a private limited company, to be registered as per the provisions of the Companies Act, 2013, to implement the Joint Venture (JV), for development, manufacture and marketing of engines, engines for power generation, complete power generators and engines for various applications like Rail with MTU Friedrichshafen GmbH, Germany, a subsidiary of Rolls-Royce Power Systems AG, Germany.

In the proposed Joint Venture Company, Force Motors would hold 51% of the paid-up share capital and MTU Friedrichshafen GmbH, Germany would hold 49% of the paid-up share capital. The Board of directors of the company at its meeting held on March 20, 2018 approved the same.

Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

Force Motors Share Price

22382.80 -159.50 (-0.71%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ashok Leyland 174.75
Force Motors 22382.80
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Tata Motors 439.15
SML Mahindra 4317.20
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