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Shares of commercial and utility vehicle maker – Force Motors – rose as much as 18 per cent to hit an intraday high of Rs 1,433 after its sales more than doubled in the month of June. Force Motors’ total domestic sales more than doubled to 1,501 units compared with sale of 726 units during the same month last year. Its total production in the month of June jumped 100 per cent to 1,757 units versus 879 units in the same period last year.
Force Motors’ sales of small commercial vehicles (SCV) and light commercial vehicles (LCV) advanced to 787 units compared with 461 units last year and sales of utility vehicles (uv), sports utility vehicles (suv) and tractors jumped to 714 units versus 265 units in the corresponding period a year ago.
During the month of June Force Motors exported a total of 424 units versus exports of 134 units in June last year.
Force Motors’ shares have so far this year advanced 5.27 per cent, underperforming the Sensex which has advanced over 10 per cent during the same period.
Force Motors is maker of popular commercial vehicle brands like Traveller, Traveller Monobus, Patient Transport Ambulance, Tractors and Sports Utility Vehicles.
As of 11:52 am, Force Motors shares were up 17 per cent at Rs 1,422, outperforming the Sensex which was up 0.4 per cent.
