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Force Motors’ share price jumps 20%, reaching its upper circuit limit

Stocks
2 min Read Oct 30, 2024
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Force Motors' share price surged an impressive 20% on Wednesday, October 30, hitting the upper circuit limit on the BSE. The stock opened at ₹7,250.05, up from its previous close of ₹6,378.35, and quickly climbed to ₹7,654 by 10:10 am, locking at the upper circuit. 

This remarkable surge followed Force Motors' announcement of a strong Q2 performance post-market hours on October 29. While Force Motors soared, the broader market trend remained subdued, with the Sensex dipping about half a per cent after two days of gains, underscoring Force Motors' standout performance.

Q2 results drive investor confidence

Force Motors' September quarter (Q2) results drove strong investor interest, making it an ideal time for individuals looking to buy shares online. The company reported a consolidated net profit of ₹135.05 crore, marking a 43.84% year-on-year increase from ₹93.89 crore. Revenue from operations also showed healthy growth, rising by 7.8% to ₹1,941.33 crore from ₹1,801.68 crore in the same period last year. On a standalone basis, the Q2FY25 profit stood at ₹140.68 crore, a 43.2% increase over the previous year, further solidifying investor confidence.

The robust Q2 results reflect the company's ability to grow consistently, even amid fluctuating market conditions. These figures reinforce Force Motors as a viable option for those looking to buy shares online, particularly given its impressive year-to-date performance.

Force Motors' share price performance: A year in review

Over the past year, Force Motors' share price has skyrocketed by 126%, with a year-to-date increase of 111%. This upward trend has highlighted Force Motors as a top performer for investors keen to buy shares online. The stock reached its 52-week low of ₹3,333 on January 24 and has since rebounded dramatically, hitting a high of ₹10,272.65 in April. 

Despite declines in August and September, Force Motors has managed to regain almost 1% on a monthly basis, demonstrating resilience and ongoing investor interest.

Key takeaways

  • Significant gains: Force Motors' share price surged 20% in one day, driven by positive Q2 results.

  • Strong financials: Consolidated Q2 net profit rose 43.84% YoY, with revenues growing 7.8%.

Steady uptrend: The stock has gained 126% over the past year, showing strong long-term potential for those looking to buy shares online.