Force Motors has surged 6.5% in early trades following a strong set of quarterly numbers.
The company reported a tremendous jump in net profit at Rs 798.44 crore for the quarter ended March 2012, as against Rs 2.33 crore for the corresponding quarter a year ago. Total income rose 18% to Rs 611.42 crore in Q4FY12, from Rs 518.21 crore in the previous corresponding quarter.
Moreover the company has recommended a dividend of of Rs.10 (i.e. 100%) per share, subject to approval of shareholders.
The stock after opening at Rs 509, surged 15% to a high of Rs 538. It is now trading up 6.5% at Rs 497. The counter on BSE has seen hefty trades of 6,333 shares so far, as against a two week daily trade average of 2,523 shares.
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