Force Motors’ share price touched 52-week high of Rs 22,200 after the company entered into a Memorandum of Understanding (MoU) to acquire full control of Veera Tanneries.
At 09:29 hrs Force Motors was quoting at Rs 21,849.95, up Rs 431.10, or 2.01 percent, on the BSE.
Force Motors, Veera Tanneries (VTPL), and the shareholders of VTPL executed the MoU on Friday, February 6, 2026, for the acquisition of 100% equity stake in VTPL. The total consideration for the transaction stands at Rs 175 crore.
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For the quarter ended December (Q3FY26), the company reported a 252% surge in consolidated net profit to Rs 406.1 crore, compared with Rs 115.3 crore in the corresponding period last year.
Revenue rose 12.7% year-on-year to Rs 2,128.6 crore, up from Rs 1,889.5 crore.
The performance was supported by exceptional gains of Rs 211.2 crore, as against nil in the year-ago quarter.
The company’s total sales for January rose 4.6% year-on-year to 3,764 units, compared with 3,597 units in the same month last year.
Domestic sales increased 4.92% to 3,665 units, while exports declined 4.81% to 99 units, down from 104 units a year ago.
The share price surged 230 percent in the last one-year.
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