India's Force Motors up on monthly sales climb in Jan

Force Motors

06/02/2024 07:56

** Shares of Force Motors  FORC.BO  up as much as 3.3% at
4,200 rupees, highest level since Dec. 5
    ** Co's monthly domestic sales rose 22.2% YoY in January
    ** Other automakers reported monthly sales on Feb. 1, making
Nifty Auto index  .NIFTYAUTO  stocks, including Mahindra and
Mahindra  MAHM.NS , top gainers on the day
    ** Since Oct and Nov 2023, auto stocks rallied on strong Q2
results to record highs, and extended gains over the last month
on good Q3 performances
    ** FORC up 7.5% since Q2 results in Nov; Q3 results due next
week

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))