The share price of Force Motors has risen by more than 7% following the Indian Defence Forces
Force Motors share price: Force Motors’ shares rose more than 7% on Friday, March 28, after the Indian Defence Forces ordered 2,978 Gurkha light vehicles. The stock surged 7.4% to ₹9,438.95 per share on the National Stock Exchange (NSE). At 9:42 a.m., it was up 4.31% to ₹9,166.45 each.
According to an exchange filing, the car manufacturer has been designated as the lead vendor for the Indian Defence Forces’ acquisition of 2,978 Gurkha light vehicles. Force Motors said the order will be delivered in numerous tranches over three years. On Thursday, the Ministry of Defence announced a deal with Armoured Vehicle Nigam Ltd, Force Motors, and Mahindra & Mahindra for about 5,000 light vehicles for ₹2,500 crore. “These new vehicles are developed using modern technology, with increased engine power to support a payload of 800 kgs. It would allow the Armed Forces to move freely in all terrain and operational scenarios,” the defense ministry stated. Mahindra & Mahindra shares fell 3.23% to ₹2,644.80 per unit on the NSE.
NIFTY and SENSEX performance:
Benchmark indexes fell on Friday, mirroring negative trends in international markets amid uncertainty about Trump tariffs. The NSE NIFTY declined 0.27% to 23,528.4, while the SENSEX dropped 211 points to 77,390 at 10:15 a.m. The top losses within the NIFTY pack were Mahindra & Mahindra, Wipro, Shriram Finance, Infosys, Power Grid, and Cipla. The top gainers were ONGC, Tata Consumer Products, Hindustan Unilever, Kotak Mahindra Bank, and Nestle India. Tokyo, Shanghai, Hong Kong, and Seoul experienced significant price drops. US markets likewise closed lower. According to exchange statistics, foreign institutional investors (FIIs) acquired securities worth ₹11,111.25 crore on Thursday.
