India's Force Motors surges 8% as May production, sales rise

Force Motors

06/06/2023 08:00

** Shares of automobile co Force Motors Ltd  FORC.NS  rise
as much as 8.34% to 2,057.70 rupees
    ** FORC says its May production rose to 2,828 units vs 2,047
units yr ago
    ** Domestic sales at 2,154 units and export sales at 491
units 
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** FORC's relative strength index above 70, indicating it is
overbought
    ** More than 191,000 shares change hands by 12:28 p.m. IST,
1.3x 30-day avg of 142,845 shares
    ** One analyst covering the stock has a "strong buy" rating;
median PT is 1,340 rupees - Refinitiv data
    ** Including session's gain, stock up 46.14% YTD
    

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))