Force Motors has soared 11% to Rs 391, extending its past two day’s rally on BSE, after promoter’s increased their stake in the company to 56.54% from 51.75% earlier.
Currently stock is trading at its 52-week high, zooms 36% in past three trading sessions from Rs 287 on February 14. Around 13,000 shares have changed hands on the counter till 0930 hours against an average less than 10,000 shares that were traded daily in past two weeks on BSE.
On February 17, 2014 Jaya Hind Investments Private Limited and others have acquired 631,139 equity shares of Rs 10 each on “Spot Delivery Basis” from twelve members of the company, Force Motors said in a statement.
With this acquisition, the number of shares held by the promoter group stands increased to 56.54% from 51.75% of the total paid up share capital of the company, it added.
Currently stock is trading at its 52-week high, zooms 36% in past three trading sessions from Rs 287 on February 14. Around 13,000 shares have changed hands on the counter till 0930 hours against an average less than 10,000 shares that were traded daily in past two weeks on BSE.
On February 17, 2014 Jaya Hind Investments Private Limited and others have acquired 631,139 equity shares of Rs 10 each on “Spot Delivery Basis” from twelve members of the company, Force Motors said in a statement.
With this acquisition, the number of shares held by the promoter group stands increased to 56.54% from 51.75% of the total paid up share capital of the company, it added.
