Force Motors drops after issuing commercial papers

Force Motors fell 0.93% to Rs 4,365 at 10:24 IST on BSE after the company issued commercial papers for an aggregate amount of Rs 200 crore dated 12 January 2017, with tenure up to 180 days.

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 47.74 points or 0.18% at 27,199.42

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 4,444 and a low of Rs 4,360 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016. The stock had hit a 52-week low of Rs 2,180 on 29 February 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 13.26% compared with Sensex's 2.42% rise. The scrip had also outperformed the market in past one quarter, rising 1.52% as against Sensex's 1.54% fall.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors' net profit rose 17.72% to Rs 50.28 crore on 12.2% growth in net sales to Rs 841.89 crore in Q2 September 2016 over Q2 September 2015.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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