Shares of Force Motors rose sharply by 20 per cent today as German luxury car maker BMW has partnered with the company.
Force Motors' scrip zoomed 20 per cent to end the day at Rs 1,363.90 -- its upper circuit limit at the BSE.
The company's market value rose by Rs 280.56 crore to Rs 1,777.56 crore following the rise in the stock.
On the volume front, 11.79 lakh shares of the company changed hands at the BSE during the day.
BMW is ramping up its localisation efforts in India with over 50 per cent of parts of its vehicles produced at Chennai plant to be sourced from here.
The company, which has lined up 15 new launches this year, has increased its local suppliers to eight from this year from two previously. These include the likes of Force Motors to supply engines and gearbox, Hero Chassis for axles and Draexlmaier India for door panels and wiring harness.
