Force Motors shares trade higher post June sales numbers

Shares of Force Motors Ltd continue to gain during the early afternoon hours of trade on Thursday, on the back of Company’s production & sales data for the month of June.

The Company sold a total of 2,669 vehicles in June 2018 as against 2,466 vehicles in June 2017, clocking growth of about 8% on Year-on-Year (YoY) basis. The Automaker’s sales for the first quarter of FY19 increased 5% on YoY to 6,772 vehicles.

At 2:25 pm on Thursday, share price of Force Motors was quoting at Rs. 2,487.00 per share, up Rs. 90.25 or 3.77% on BSE. The scrip opened at Rs. 2,434 and touched an intraday high of Rs. 2,510 per share on BSE. Meantime, BSE benchmark was trading up 3.34 points to 35,648.74 and the NSE Nifty50 was up 2.30 points to 10,772.20.

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Invest in Stocks: IPO heats up, 36 Cos lines up

The IPOs (Initial Public Offering) picks up momentum as there are thirty six companies have lined up initial share sale plans worth Rs. 35,000 crore in the months ahead, prospecting their fund expansion for their projects.

Some of those Companies which goes ahead for IPO, include Indian Renewable Energy Development Agency, IRCON International Ltd, Rail Vikas Nigam Limited, RITES Ltd, Garden Reach Ship builders and Engineers and Mazagon Dock.

Additionally, over two dozen companies including Credit Access Grameen, Route Mobile, Sembcorp Energy India, Lodha Developers and Flemingo Travel Retail are awaiting regulatory nod for IPOs.

Meantime, about 15 companies including ICICI Securities Ltd, Bandhan Bank Ltd, Hindustan Aeronautics Ltd and Mishra Dhatu Nigam Ltd have hit the capital markets thus far this year.

An Initial Public Offering or IPO is when a private company or Corporation raises investment funds by offering its stock to the public for the first time. IPOs are often issued by growing companies seeking capital to expand. In an IPO, the Company or the issuer raising capital, procures the assistance of an under-writing Company or investment bank, to help find out the best type of security to issue, offering price, amount of shares and the time-frame for the market offering.

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Stock Tips: Nifty trend remain positive; RCom rises

NSE Nifty was trading up post lunch hours of trade amid profit booking visible in the banking and certain pharma stocks. At 2:05 PM, the Nifty 50 was at 10,172.15 points, up 47.80.05 points while BSE-Sensex was at 33,194.65 points, up 197.89

Shares of V-Mart Retail Limited was trading up 2.89% at 1907.05 as the company stated promoter will re-align their shareholding in the company.

Shares of Ashok Leyland Limited gains 1.34% at Rs. 147.95 as the company has bagged a 2,100 bus order in Tamil Nadu.

Shares of RCom as trading up by 2.60% as the company said that its bondholders approved its asset selling plan.

Bharti Airtel (+3.91%), Bajaj Finance (+2.36%), NTPC (+2.31%), Cipla (+1.83%) and Ultratech Cement (+1.64%) were top gainers on Nifty50 at this point.
On the other hand, shares of Eicher Motors (-1.73%), Bosch Ltd (-1.66%), Tata Steel (-1.53%), Tata Motors (-1.33%) and Adani Ports (-1.32%) were the top losers during the time.

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