Money doubled in 6 months! This stock is continuously doing upper circuit, people are ready to buy even at the current price.
Heavy buying was seen in the shares of Force Motors Limited.
In 6 months, this stock has gained about 190 percent.
Force Motors Ltd reported strong Q1FY24 results.
Force Motors Limited Share: The effect of the ongoing rise in the stock market is being seen on the stocks of many companies. There has been a stormy rise in the shares of auto sector company Force Motors Limited. The company’s shares climbed 5 per cent on Friday. There has been heavy buying in this stock in the last 2 days. Not only this, this stock has given good returns in the medium term also. In the last 6 months, this stock has gained about 190 percent.
Force Motors Limited presented strong quarterly results. After this, on Friday the stock made a new 52-week high of 3,814.90. The company’s revenue in Q1FY24 stood at Rs 1499.02 crore, which has increased by 53.34 percent on an annual basis. The operational profit of the company stood at Rs 192.07 crore, while the PAT of the company stood at Rs 72.05 crore, which has increased by 578 percent year-on-year.
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Multibagger returns given in 1 year
Shares of Force Motors Limited have also given multibagger returns to the shareholders in the last 6 months. On March 10, 2023, the company’s shares were trading at Rs 1286, while on September 08, 2023, their price became Rs 3811.30. In this context, the shares increased by about 196 percent in a period of 1 year.
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Force Motors Limited is a small cap company active in the auto sector since 1958, with a market cap of more than Rs 5000 crore. The company is entirely in the business of manufacturing small and light commercial vehicles, multi-utility vehicles and agricultural tractors.
The company supplies its vehicles to various countries in the Middle East, Asia, Latin America and Africa. Till 2005, this company was known as Bajaj Tempo. The company assembles engines for Mercedes-Benz India and BMW India under the Auto Components Division.
(Disclaimer: The information given here is based on the performance of the shares. Since investing in the stock market is subject to market risk, please consult a certified investment advisor before investing.)
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FIRST PUBLISHED : September 10, 2023, 11:50 IST