Force Motors Hit 52 Week Low After November Sales Data

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After overwhelming sales across automobile segment for the month of November, where Maruti and Honda leaded the charts, Kolkata based Force Motors hit 52-week low of Rs 3164 in  trade today.

 Force Motors Hit 52 Week Low After November Sales Data

The scrip has been an underperformer for over 3 months with a dip in share price of 22% and November sales data further accumulated losses for the company.

The stock in the trading day today moved lower by 4% to reach its 52 week low price of Rs. 3164.

The car and SUV maker reported sales growth of 4% with sales of 1,687 units for the month of November as against 1,622 units sold in the corresponding period a year ago.

Further, SCV and LCV segment of the company registered lower sales growth of 5.5% at 812 units in the month gone by.

The standalone net profit of the company declined to Rs. 72 crore for the first six months of the FY18 as against the previous FY17 which recorded a profit of Rs. 102 crore in the same period.

In later part of the day, the scrip pared its losses and was trading higher at Rs. 3177.95 a drop of 2.42% against the last closing price.

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