Force Motors share price slumps 5% as Q4 profit falls on higher costs

2 weeks ago 5

1 min read 29 Apr 2024, 10:40 AM IST Trade Now

Force Motors stock terms slumped 5% arsenic Q4 nett dipped, with nett net decreasing by 4.3% to ₹140 crore. Operating gross surged implicit 35% to ₹2,011 crore. Analysts foresee a affirmative inclination with imaginable short-term nett booking.

Force Motors stock terms opened astatine ₹10,100 apiece connected the BSE today.

Force Motors stock terms slumped implicit 5% connected Monday's league aft the institution reported a driblet successful its quarterly nett (Q4FY24) for the archetypal clip successful 5 quarters, wounded by rising costs. The firm, which besides produces engines for Mercedes and BMW vehicles successful India, reported that, compared to a twelvemonth ago, its consolidated nett net for the 4th ended March 31 decreased 4.3% to ₹140 crore. Operating gross accrued by implicit 35% to ₹2,011 crore. Force Motors stock terms opened astatine ₹10,100 apiece connected the BSE today.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst astatine Angel One, Force Motors stock terms has slipped successful the greeting league and is forming a bearish candlestick signifier connected the regular chart. Overall, the inclination is positive, but successful the adjacent term, we whitethorn spot immoderate nett booking. Any specified dip successful the adjacent word is supported by 9,000.

(more to come)

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Published: 29 Apr 2024, 10:40 AM IST