Force Motors revvs up

Force Motors is up and about today also. Yesterday, the counter saw huge volumes and the stock breached its upper circuit. Today too volumes are up and the stock is currently up almost 10% at Rs.429.

The stock is up based on the robust production and sales figures which the company had announced yesterday.  Its total production for Nov’13 stood at 1490 units but strangely the market does not seem to have noticed that it is much below Oct’13 production of 2329 units. Total sales for Nov’13 was at 1505 units v/s 2559 units.  In terms of sales value, its gross sales for Nov stood at Rs.90 crore and net sales was at Rs.78 crore.  The company has not given YoY numbers for comparison. But the market is enthused with the numbers and thus celebrating it.

The company makes and sells vehicles under the brand names of Matador, Tempo and Traveller. It commands a 50% market share in 6-20 seater segment.