Bajaj Holding Company limited, the flagship company of the Bajaj Group has recently purchased a stake in Firodia Group promoted Force Motors. According to the data provided to the Bombay Stock Exchange, Bajaj Holding bought 405,000 shares in the Pune-based light, medium and heavy duty trucks and buses makers in a block deal worth a whopping Rs 14.20 crore.

Notably, the company now owns a 1/5th share in Force Motors. In fact, the stock of the CV major gained a mind-boggling 18% over the last three trading sessions on the day of the deal on the BSE touching its 52-week high. Moreover, the stock of Force Motors has gained over 50% since the start of March.

Bajaj Holding has shares in Bajaj Auto and Bajaj Finserv its auto and financing arm respectively. The two parties that the company has sought shares from are Anand Trading Company (204,682 shares) and Rishab Trading Company (200,318 shares).

The deal was completed at an average price of Rs. 350.8 per share. However, the company has clarified its intentions of not raising its stake in Force Motors anymore.