Force Motors in fast lane
By Ruma Dubey
about 2 years ago
Force Motors is the top gainer on the BSE currently, going up over 15% to hit an intraday high at Rs.1400. Its 52-week high is at Rs.1559.50. Volumes have jumped up over 20 times.
The stock price reacted after it stated that its total production for June of all vehicles - Small Commercial Vehicles (SCV), Light Commercial Vehicles (LCV), Utility Vehicles (UV), Sports Utility Vehicles (SUV) and Tractors rose 17% from 1501 to 1757 units (YoY).
Sales of SCV and LCV were up 34%while that of SUV and tractors were down 2%.
QoQ, total sales for June were at 1501 v/s 1306 vehicles sold in May.
In June, the company recorded total exports of 424 units of which it exported only 1 unit of UV, SUV and tratcor while balance 423 units were SCV and LCV.