Force Motors stock hits upper circuit of 20% amid more-than-double auto sales in June 2021

Force Motors shares hit an upper circuit of 20 per cent to Rs 1456.35 per share on the BSE intraday trade on Tuesday, as the auto company reported more-than-double total auto sales in June.

The total sales of Force Motors grew by 124 per cent year-on-year (YoY) to 1,925 units in June 2021, wherein the car and utility vehicles company sold near 860 units in June 2020, and the total sales grew 32 per cent from 1,460 units sold in May 2021, on a sequential basis.

The stock at open jumped over two per cent higher at Rs 1,235.05 per share on the BSE, as compared to a flat but negative open in the S&P BSE Sensex. The scrip hit a 52-week high of Rs 1,660 on December 8, 2020.

The trading volumes on the counter jumped multiple-fold, with a combined 835,000 shares have changed hands on the NSE and BSE so far.

The company's domestic sales increased 107 per cent to 1,501 units, while exports sales jumped by 216 per cent to 424 units in June 2021 in the same month a year ago. The company's domestic sales and exports have increased by 15 per cent and 175 per cent, in May 2021, on a sequential basis. 

Force Motors is engaged in the manufacturing of light commercial vehicles and utility vehicles and engines. It is an automobile company, with a focus on the design, development, and manufacture of a range of automotive components, aggregates, and vehicles.

The company had posted a loss of Rs 49.98 crore for the January-March quarter (Q4FY21), and a loss of Rs 111.86 crore for the entire previous financial year 2020-21 (FY21).