Commercial vehicle maker Force Motors today soared over 9 per cent to hit a year high on the Bombay Stock Exchange amid reports that its parent firm Firodia Group may invest over Rs 2,000 crore in the company and in another group entity Kinetic Engineering.
Shares of the company jumped by a whopping 9.15 per cent to a 52-week high of Rs 642 in early trade on BSE.
Witnessing a similar upmove, shares of the auto component maker Kinetic Engineering zoomed by 8.65 per cent to Rs 128.70 on BSE.
Meanwhile, the broader gauge Sensex was trading firm at 18,421.24 points, up 1.1 per cent from previous close.
According to a media report, Firodia Group has plans to invest over Rs 2,000 crore in its two companies -- Force Motors and Kinetic Engineering. Besides, the promoters may sell stake in the companies to raise funds if required.
