 "Force Motors gains on expansion plan")
Shares of Force Motors are trading higher by 3% at Rs 1,262 on BSE after the company said it is planning to set up a manufacturing facility at Chakan near Pune to produce a range of parts including engines, gearboxes and axles with annual capacity of 50,000 sets.
“The board of directors of the company has approved establishment of factory at Gat nos.330 (part), 331, 332, 333, 312/5/6/7 and 355, Village Nanekarwadi, Chakan, Taluka Khed, District Pune for manufacture of motor vehicles parts like engines, gearboxes, axles and others with annual capacity of 50,000 sets per annum,” Force Motors said in a statement.
The company already owns the land and necessary steps to convert the use of the land and obtain necessary permissions for construction and establishment of such a factory are being taken, it added.
The stock opened at Rs 1,239 and touched a high of Rs 1,285 on BSE. Around 42,000 shares changed hands on the counter till 1011 hours on BSE.
“The board of directors of the company has approved establishment of factory at Gat nos.330 (part), 331, 332, 333, 312/5/6/7 and 355, Village Nanekarwadi, Chakan, Taluka Khed, District Pune for manufacture of motor vehicles parts like engines, gearboxes, axles and others with annual capacity of 50,000 sets per annum,” Force Motors said in a statement.
The company already owns the land and necessary steps to convert the use of the land and obtain necessary permissions for construction and establishment of such a factory are being taken, it added.
The stock opened at Rs 1,239 and touched a high of Rs 1,285 on BSE. Around 42,000 shares changed hands on the counter till 1011 hours on BSE.
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