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Force Motors hits record high on heavy volumes

Since September 4, the stock rallied 40% to Rs 1,124 from Rs 802 after reported 9% yoy rise in total vehicles sales in August.

SI Reporter Mumbai
Force Motors has soared nearly 13% to Rs 1,124, also its record high on BSE, on back of heavy volumes.

At 1145 hours, around 561,000 shares already changed hands on the counter against an average sub 500,000 shares that were traded daily in past two weeks on BSE.

Shares of car and utility vehicles maker has outperformed the market by surging 40% from Rs 802 on September 4 after the company reported 9% year-on-year growth in total vehicles sales during the month of August 2014.

The company had sold a total 2,424 units worth of Rs 131 crore (net of taxes) in August 2014. It sold total 2,221 units net amounting of Rs 114 crore during the same month last year, Force Motors said in a statement.
 
 

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First Published: Sep 22 2014 | 11:45 AM IST

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