Force Motors (earlier Bajaj Tempo) shot up by 49 per cent over the last one-month period on talk of company restructuring and new launches of commercial vehicles later this year or early 2007, dealers said.
From Rs 400.35 a month ago, the company's share prices rose to Rs 599 on Thursday on the BSE. The recent joint venture with Man Commercial Vehicles group for heavy trucks was also expected to boost the company's revenues, they said. The joint venture will produce trucks for the entire Asian area.
In the medium term, the company plans to produce 24,000 vehicles per annum.