Force Motors gains on plan to establish manufacturing facility at Tamil Nadu

Force Motors is currently trading at Rs. 382.80, up by 0.90 points or 0.24% from its previous closing of Rs. 381.90 on the BSE. The scrip opened at Rs. 382.00 and has touched a high and low of Rs. 384.80 and Rs. 381.00 respectively. So far 1409 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 440.00 on 09-Apr-2014 and a 52 week low of Rs. 225.00 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 393.85 and Rs. 376.05 respectively. The current market cap of the company is Rs. 502.08 crore. The promoters holding in the company stood at 56.54 % while Institutions and Non-Institutions held 5.99 % and 37.47 % respectively. Force Motors has received an approval to establish a manufacturing facility at Anjur village, Chengelpet taluka, Kancheepuram district in state of Tamil Nadu to manufacture/assemble Engine-Gearbox for automobiles. The board of directors at its meeting held on April 29, 2014, has decided and approved for the same. Further, the above is subject to receipt of necessary approvals, sanctions, from the statutory authorities and subject to the contracts with the other contracting parties. Force Motors is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.