Force Motors on good roads

When the market opened for trade today, Force Motors was the top gainer and continues to rally among the top five gainers even now. The stock, which had closed on Friday at Rs.1094.95, opened higher today at Rs.1147, going up to an intraday high at Rs.1216.80. Volumes are robust, rising over 3.5 times.

The company announced very good sales number for the month of December. Its total domestic sales rose 52.5% (YoY) at 2517 units.

Small and LCV sales dominated with a jump of 98% at 1762 units v/s 891 units sold in Dec’18.

Utility vehicles, SUVs and tractor sales, on the other hand, fell 0.53% from 759 units to 755 units (YoY).

It exported 230 units v/s 47 units shipped in Dec’18.

Sales rose while production was down – 2379 units rolled out v/s 2578 units in Dec’18.