Force Motors gains post March sales

The stock was up 4% to Rs 4,775 on BSE in otherwise weak market

Force Motors gained 4% to Rs 4,775 on BSE in otherwise weak market after company announced that it has sold 4,129 units in the domestic market during the month of March 2017, against 2,491 units in February.

The commercial vehicle manufacturer had sold 4,509 units during the month of March 2016.

Out of the total 4,129 units sold in March, 2,575 units belong to Small Commercial Vehicles (SCVs) and Light Commercial Vehicles (LCVs), and another 1,554 units to Utility Vehicles (UVs), Sports Utility Vehicles (SUVs) and tractors.

Thus far in the calendar year 2017, the stock rallied 28% as compared to 12.5% rise in the S&P BSE Sensex.

At 10:42 am; it was up 2.2% at Rs 4,700 against 0.45% decline in the benchmark index. The trading volumes on the counter more than doubled with a 108,000 shares changed hands on the BSE so far. The stock hit a record high of Rs 4,839 on October 27, 2016 in intra-day trade.