Force Motors rises 6%

Force Motors rose 6% today to Rs.2950. Volumes are very robust on the counter; from a 2-week average of 33,000 shares, today alone it has already seen 80,000 shares till now change hands.

The stock price has spurted up today that the CV and UtilityVehicle (UV) maker for the month of March reported a steady 4% (YoY) sales volume growth.

It sold a total of 4,518 vehicles in March’18, led mainly by growth in UV, SUV and tractors segment which showed a good 27% growth. The CV segment in fact reported a 10% decline.

The company ended FY18 with a 6% fall in total volumes, with CVs recording a 9% drop and UVs, SUV and tractors volume going down 1%.

Obviously, the market looks at the monthly sales number and that has been good which is what matters more than FY18 as through the year, the tapering effect of demonetization and then GST left a telling effect.