 "Why have Force Motors shares hit 20% upper circuit in trade today?")
Force Motors shares were locked in 20 per cent upper circuit in trade on Wednesday (October 30) and registered an intraday high of Rs 7,654 per share on BSE. The stock zoomed after the company reported good second quarter (Q2FY25) numbers.
Around 9:29 AM, Force Motors shares were up 17.86 per cent at Rs 7517.45 per share. In comparison, the BSE Sensex was down 0.31 per cent at 80,120.04. The market capitalisation of the company stood at Rs 9,797.42 crore.
Force Motors, on Tuesday, after market hours, reported its Q2 results. In the second quarter, the company registered a consolidated net profit of Rs 134 crore as compared to Rs 92.4 crore a year ago which implies a 43 per cent rise.
The revenue of Force Motors for the quarter under review came in at Rs 1,941.33 crore, up 7.8 per cent, as compared to Rs 1,802 crore a year ago.
The company's total income increased 7.6 per cent to Rs 1,949.9 crore in the quarter under review as compared to Rs 1,810.74 crore.
However, the sales of Force's own vehicles fell 19 per cent during the quarter, it still benefited from surging demand for luxury vehicles.
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Force Motors is an Indian automotive company that specialises in manufacturing a range of vehicles, including utility vehicles, commercial vehicles, and engines. Founded in 1958, the company has a strong presence in both the passenger and commercial vehicle segments.
It is known for its robust vehicles, often used in rugged terrains and for commercial purposes. They produce models like the Force Trax, Force Gurkha, and various others designed for specific markets, such as school buses and ambulances. The company has focused on integrating modern technology and safety features into its vehicles while maintaining a cost-effective production model.
In recent years, Force Motors has also been exploring electric mobility and sustainability, aligning with global trends in the automotive industry. Their commitment to quality and innovation has helped them carve out a niche in the competitive Indian market.
Over the last five decades, Force Motors has partnered with leading global automotive names like Daimler, BMW, Rolls-Royce, ZF, Bosch, MAN etc. Through these associations, it has developed the necessary expertise in-house to harness the latest advances in technology and develop relevant mobility solutions.
In the past one year, Force Motors shares have gained 88.18 per cent against Sensex's rise of 25 per cent.