Force Motors Share Price Jumps 13%

Force Motors Share Price Jumps 13%

Force Motors share price surged more than 13 percent intraday on December 7 after the stock witnessed a spike in volume.

Reporting its November sales recently, the company said total production fell 20.15 percent to 1,426 units. Domestic vehicle sales declined 57.23 percent to 828 units in November 2020 compared with 1,936 units in November 2019.

Total vehicle exports jumped 70.45 percent to 300 units in November 2020 as against 176 units in the year-ago period.

The company reported over a three-fold jump in consolidated net profit at Rs 14.05 crore in the second quarter ended September. The company had posted a consolidated net profit of Rs 4.21 crore in the same period last fiscal, Force Motors said in a regulatory filing.

Consolidated revenue from operations stood at Rs 694.58 crore as against Rs 755.15 crore in the corresponding quarter last fiscal, it added.