Force Motors has rallied 11% to Rs 596, extending its past three days rally, on back of heavy volumes on the Bombay Stock Exchange (BSE).
The stock opened at Rs 540 and has seen around 237,000 shares changing hands till 1115 hours as against an average 160,000 shares that were traded daily in past two weeks on BSE.
Shares of car and utilities maker has rallied 40% in past four trading sessions from Rs 425 on July 15, erases losses made earlier in the month.
The stock had tanked 32% from its 52-week high of Rs 625 touched on June 11 after Bajaj Holdings & Investment sold more than 6 percentage points stake of the company through open market transactions.
According to disclosures made to the BSE, Bajaj Holdings & Investment sold 846,470 shares representing 6.42% stake of Force Motors for Rs 44.93 crore between June 16 and July 11 through open market.
Post transaction, Bajaj Holdings & Investment stake in Force Motors reduced to 11.04% from 17.46%, it added.
The stock opened at Rs 540 and has seen around 237,000 shares changing hands till 1115 hours as against an average 160,000 shares that were traded daily in past two weeks on BSE.
Shares of car and utilities maker has rallied 40% in past four trading sessions from Rs 425 on July 15, erases losses made earlier in the month.
The stock had tanked 32% from its 52-week high of Rs 625 touched on June 11 after Bajaj Holdings & Investment sold more than 6 percentage points stake of the company through open market transactions.
According to disclosures made to the BSE, Bajaj Holdings & Investment sold 846,470 shares representing 6.42% stake of Force Motors for Rs 44.93 crore between June 16 and July 11 through open market.
Post transaction, Bajaj Holdings & Investment stake in Force Motors reduced to 11.04% from 17.46%, it added.
The company however, not disclosed the name of the buyers.
