My Best Pick 2016

Daljeet Singh Kohli

Daljeet Singh Kohli of IndiaNivesh says Force Motors has more room to grow as luxury car demand takes off

Soumik Kar

It was in August 2014 that Force Motors made headlines when the Bajaj group sold around three fourth of its stake (16%) in the Firodias-owned company. But in the interview following the news, the more interesting comment came from the chairman (Abhay Firodia) that, in addition to hiking the family’s stake by 9%, the company was planning to incur a capex of ₹1,000 crore in three years mostly from internal accruals. This was surprising given that the-then market cap of the company was close to ₹1,000 crore and the only notable pile on its books was the ₹200 crore that it received from its stake sale in MAN Force Trucks JV in 2012.