Force Motors stock zooms 10%, most in over a month after four-day slump

Force Motors shares have been on a dismal run in the last three months, tanking almost 20 percent.

Shares of Force Motors Limited surged 10 percent to Rs 7,420 on September 20, registering their largest gain in nearly fifty days, following a four-day losing streak on the bourses. Trading volumes were robust, with over 71,000 shares changing hands—more than double the one-week and one-month average of 35,000 shares.

At about noon, shares of the company were trading at Rs 7,261, higher by 7.6 percent from the last close on the NSE. Force Motors shares have been on a dismal run in the last three months, tanking almost 20 percent.

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Indian automaker Force Motors reported a 69 percent increase in quarterly profit on Tuesday, driven by rising demand, which also led to a 10 percent surge in its share price. The company’s consolidated net profit for the April-June quarter climbed to Rs 116 crore (approximately $14 million), up from Rs 68.56 crore in the same period last year.

Specializing in commercial vehicles (CVs) such as vans, school buses, and ambulances, Force Motors also recorded a 27 percent rise in revenue, totaling Rs 1,885 crore, bolstered by a 10 percent increase in sales volumes.

In late June, Pune-based Force Motors announced on Monday that it has teamed up with EY Parthenon India to enhance its digital transformation program, aiming to boost innovation and productivity across its value chain.

Key objectives of this partnership include redesigning Force Motors' digital framework, implementing advanced digital platforms and solutions for customers, and enhancing its capabilities and security.