Force Motors jumps after strong Q3 earnings

Force Motors spurted 8.44% to Rs 2,796 at 12:36 IST on BSE after net profit surged 174.7% to Rs 27.44 crore on 44.5% growth in net sales to Rs 739.79 crore in Q3 December 2015 over Q3 December 2014.

The result was announced on Saturday, 23 January 2016.

Meanwhile, the S&P BSE Sensex was up 146.49 points or 0.6% at 24,582.15.

On BSE, so far 2 lakh shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter. The stock hit a high of Rs 2,834 and a low of Rs 2,670 so far during the day. The stock had hit a record high of Rs 3,785 on 20 October 2015. The stock had hit a 52-week low of Rs 1,131.30 on 3 February 2015. The stock had underperformed the market over the past one month till 22 January 2016, sliding 16.05% compared with Sensex's 4.51% fall. The scrip had also underperformed the market in past one quarter, declining 25.39% as against Sensex's 10.45% fall.

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

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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