Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; Net profit gains over 570 per cent!

Shares of the company have gained about 190 per cent in the last six months.

Shares of Force Motors Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 190 per cent. On Friday, the stock also made a fresh 52-week high at Rs 3,814.90.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 1499.02 crore which grew by 53.34 per cent YoY. The operating profit of the company stood at Rs 192.07 crore, while the PAT of the company stood at Rs 72.05 crore, representing a growth of 578 per cent YoY.

Shares of Force Motors Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 1314.25 on September 09, 2022, to Rs 3811.30 on September 08, 2023, an increase of about 190 per cent in one year holding period.

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Force Motors Limited is the flagship company of the Abhay Firodia group. The company is in the business of manufacturing fully vertically integrated small and light CVs, multi-utility vehicles, and agricultural tractors, which it supplies to various countries in the Middle East, Asia, Latin America, and Africa. It was known as Bajaj Tempo till 2005.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.