Force Motors drops on profit booking

Force Motors lost 4.01% to Rs 1,229.95 at 12:05 IST on BSE, with the stock declining on profit booking after recent rally.

Meanwhile, the BSE Sensex was down 11.52 points, or 0.04%, to 26,764.17

On BSE, so far 5.12 lakh shares were traded in the counter, compared with an average volume of 3.76 lakh shares in the past one quarter.

The stock hit a high of Rs 1,317.50 and a low of Rs 1,170 so far during the day. The stock hit a record high of Rs 1,350 on 23 September 2014. The stock hit a 52-week low of Rs 272.05 on 27 November 2013.

The stock had outperformed the market over the past one month till 23 September 2014, rising 59.29% compared with 1.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 142.29% as against Sensex's 6.97% rise.

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

Shares of Force Motors were on a roll recently, surging 37.97% in five trading days to Rs 1,281.35 on 23 September 2014 from a recent low of Rs 928.70 on 16 September 2014.

Force Motors reported 35.9% rise in net profit to Rs 19.40 crore on 9.1% rise in total income to Rs 557 crore in Q1 June 2014 over Q1 June 2013.

Force Motors is engaged in the manufacture of LCVs, SCVs, utility vehicles, agricultural tractors and other products related to automobile industry such as diesel engines.

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