After the company’s stocks jumped in domestic sales to 1,623 units last month from 772 units sold last year, Force Motors advanced 1.86% to Rs 1,574.25.
Compared with October 2022, domestic sales decreased by 22.3% in November. Export sales aggregated to 329 units in November 2022, falling 9.12% from 362 units yearly while rising 229% from 100 units monthly.
- Just Dial Stocks Skyrocketed 15% On Announcement of Q4FY24 Business and Financial Updates
- Swing-Trading 101: Capturing Market Moves with Flexibility
- Jubilant Pharmova Shares Climbed 8% On Announcing Ceastion of Loss Making Arm’s Operations in Salisbury, USA
- Paytm Shares Gained 4.5% on NPCL’s Approval To Create New VPAs with Axis, HDFC, SBI, and Yes Bank
- Ambuja Cements Shares Gained 3% On Receiving Additional Rs 8,339 Crore Investment From Adani Group
In November 2022, the production was 2,073 units, up from 1,135 units produced in the same period last year. The production fell by 5.5% in November from 2,194 units produced in October 2022.
The company manufactures light utility vehicles, commercial vehicles and engines.
On a consolidated basis, the net profit of Rs 19.25 crore in the second quarter of FY23 compared to a net loss of Rs 1.07 crore posted in the second quarter of FY22. Net sales rose 34.8% yearly to Rs 1,264.07 crore in the second quarter of FY22.