Force Motors surges 11% post March sales numbers

The stock moved higher by 11 per cent to Rs 1,869 on the BSE on back of heavy volumes after the company reported total sales of 4,117 units in the month of March 2019.

Shares of Force Motors moved higher by 11 per cent to Rs 1,869 on the BSE on Thursday on the back of heavy volumes after the company reported total sales of 4,117 units in March. The stock hit an intra-day low of Rs 1,661 today.

On a month-on-month basis, total sales grew 61 per cent, as the company had sold 2,563 units in February. However, on a year-on-year basis, its down 9 per cent. The company sold 4,518 units in March 2018.

Force Motors reported total domestic sales of 4,036 units in March 2019. While the domestic small commercial vehicles (SCV) and light vehicles (LV) sales reported at 2,548 units, the Utility vehicle, Sport-utility (vehicle) and tractor sales in December were shown at 1,488 units.

During the quarter ended on December 31, 2018, the company acquired certain assets from MAN Trucks India Private Limited, being movable properties, immovable properties, intangible assets and other miscellaneous assets situated at Pithampur, District Dhar, Madhya Pradesh. All contractual arrangements entered into for these acquisitions fully implemented during the quarter.

At 01:17 pm, Force Motors was up 7 per cent at Rs 1,800 on the BSE, as compared to a marginal 0.02 per cent fall in the S&P BSE Sensex. The trading volumes on the counter more than doubled with 53,000 shares changing hands so far, against an average of 21,000 shares that traded daily during the past two weeks on the BSE.