Force Motors rises over 17%

Force Motors is currently the top gainer on the BSE despite reporting lower sales numbers for November.

The stock price rose 17.5% to hit an intraday high at Rs.1480, with a four times surge in volumes. Its 20% UC of the day stands at Rs.1511.80.

The company, for Nov reported a 20% (YoY) drop in production at 1426 units. Domestic sales fell by a sharp 57% at Rs.828 units though total exports jumped up by a huge 70% to 300 units – which explains the reason for the buying spree on the counter.

MoM, production was down 16.5%, domestic sales were down 50% and exports fell 4%.