Force Motors speeds up
By
Research Desk
about 10 years ago
Force Motors is in the limelight today, with an over 17 times spike up in volumes. The stock is up 15% at Rs.353, hitting an intra day high at Rs.364.90. Its 52-week is at Rs.457.
The stock is up after the company stated that its promoters have hiked their stake in the company from 51.75% to 56.54% after they acquired 6.31 lakh shares yesterday, on spot delivery basis from 12 members of the company. Promoters hiking stake is always welcome news as it reiterates their commitment to the company and this explains the spike up in its stock price.