Force Motors catches speed on planning to invest around Rs 2,000 crore in 3-4 years
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Force Motors is currently trading at Rs. 4074.95, up by 157.40 points or 4.02% from its previous closing of Rs. 3917.55 on the BSE.
The scrip opened at Rs. 3925.00 and has touched a high and low of Rs. 4199.90 and Rs. 3808.65 respectively. So far 72910 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4468.00 on 13-Nov-2023 and a 52 week low of Rs. 1085.20 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 4199.90 and Rs. 3505.80 respectively. The current market cap of the company is Rs. 5456.29 crore.
The promoters holding in the company stood at 61.63%, while Institutions and Non-Institutions held 6.12% and 32.25% respectively.
Force Motors is planning to invest around Rs 2,000 crore in the next three to four years on various activities including sustainability drive and electric vehicle development. The company, which sells a range of commercial and utility vehicles, is looking to bring electric versions of its vans' ranges step by step going forward.
The investment will be across conventional engines, EVs, upgrading further engineering facilities, creating a more sustainable environment. It is across the board and across the value chain. The company, which showcased its Traveller Electric, Urbania Diesel, and Traveller CNG at the Bharat Mobility Global Expo, has embarked on an electrification drive, although it will continue with its conventional engine vehicles.
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.
