Force Motors driven up 5% on securing ambulance order from Uttar Pradesh

The shares of Force Motors Limited accelerated 5.25% higher to an intraday high of ₹7638 per share on Friday as the company received an order for the supply of 2,429 ambulances. 

The order was placed by the Medical Health and Family Welfare Department of Uttar Pradesh for 2,429 units of BS-VI diesel ambulances. The order value was not disclosed but the execution period is December 2024 to March 2025.

On the other hand, the company’s monthly update indicated that the sales of small commercial vehicles (SCV), light commercial vehicles (LCV), utility vehicles (UV) and sports utility vehicles (SUV), domestically, declined by 8.06% on an annual basis to 1,985 units in December 2024 from 2,159 units a year ago. However, it rose by 14.3% from November's sale of 1,736 units. The company's domestic sale of tractors stood at 15 units.

Moreover, the export of SCV, SUV, LCV and UV decreased by 84.35% on a yearly basis to 51 units as compared to 326 units. Overall, the company's total sales reduced by 18.07% to 2,036 units against 2,485 a year ago. However, it increased 8% from November's sale of 1,885 units.

Force Motors is an Indian automobile manufacturer specializing in production of commercial vehicles, multi-utility vehicles (MUVs), and automotive components. The company is renowned for its commitment to creating durable and dependable vehicles, with a particular focus on utility vehicles and commercial transport, catering primarily to the Indian market.

At close on Friday, the shares of Force Motors Limited were 1.03% at ₹7,331.60 per share as compared to the previous close of ₹7,256.85 per share on the National Stock Exchange (NSE).