Force Motors rises on plan to launch SUVs

Force Motors is currently trading at Rs. 683.00, up by 0.90 points or 0.13% from its previous closing of Rs. 682.10 on the BSE.

The scrip opened at Rs. 679.95 and has touched a high and low of Rs. 689.00 and Rs. 675.05 respectively. So far 687 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1045.00 on 05-Oct-2010 and a 52 week low of Rs. 324.00 on 13-Jul-2010.

Last one week high and low of the scrip stood at Rs. 689.00 and Rs. 600.00 respectively. The current market cap of the company is Rs. 898.62 crore.

The promoters holding in the company stood at 51.75% while Institutions and Non-Institutions held 5.86% and 42.40% respectively.

Force Motors, a commercial vehicles maker has already forayed into the passenger vehicle segment and is planning to launch Sports Utility Vehicles (SUV) later this year. The firm plans to sell 4,000 SUVs in the first year of operations.

Recently, MAN Force Trucks, 50:50 joint venture between MAN Nutzfahrzeuge AG of Germany and Pune-based Force Motors, was planning to trim features on its products to make them more affordable in the Indian commercial vehicles (CV) space. The strategic move comes in a bid to boost sales of its trucks in the country.

Force Motors, which manufactures commercial vehicles, is likely to foray into the passenger vehicle segment with its sports utility vehicle (SUV) by May 2011, and expects to sell 4,000 units of the SUV in the first year. It is expected that the price to be in the range of Rs 10-12 lakh, the SUV will run on Mercedes-Benz licensed engine and has been developed by the home-grown company with the help of international consultants. The company also plans to come up with two to three more models on the SUV platform.

Source:- http://money.livemint.com/News/Home/EQUITY/MOVERS-TODAY/141443.aspx


Thanks
Ankit Wani
Intern @ DENIP Consultants Pvt. Ltd.