Shares of
Force Motors Ltd., a maker of tourist vehicles and engines, hit a fresh high after reporting a sharp surge in earnings and profitability on the back of higher vehicle sales.
Force Motors, a part of the
Firodia Group, said its profit in the first quarter jumped 84 percent to 36 crore rupees compared with 19.4 crore rupees in the same quarter a year ago.
Total Income rose 17 percent to 640 crore rupees during the April-June quarter versus 454 crore rupees in the same period a year ago. Force Motors' operating margin rose to 8.6 percent versus 6.7 percent over the two comparative periods.
Force Motors rose 73 rupees, or 2.8 percent, to 2,603 rupees, a fresh high, on the
National Stock Exchange where 6.44 lakh shares were traded by 2.50 pm compared with the 5-day average of 4.55 lakhs.
Titan's market capitalisation has soared 350 percent in the past one year to 3,500 crore rupees as investors latched on to India's expanding auto boom.
(Image credits: Indiatimes)
