Shares of Force Motors jumped over 11.5 percent on Monday, touching an intra-day high of Rs 1,216.80 apiece. The sharp surge in Force Motors share price came after the auto company posted 53 percent jump in December 2019 sales.

Force Motors ltd shares quoted at Rs 1,198, higher by 9.41 percent on BSE at 11.21 am. The stock had opened at Rs 1,147 per share, up almost 5 percent from Friday's close of Rs 1,094.95. The Nifty Auto index slipped 1.7 percent in trade today.

On long-term basis, Force Motors shares have corrected by over 25 percent in the last one year, but the 10-year return on the stock is positive by more than 260 percent. So far this year, Force Motors shares have gained over 10 percent.

Force Motors' total production rose over 33 percent to 2,379 units in December 2019 from 1,786 units in November 2019. Year-on-year (YoY) basis, however, the production still remains down by an almost 8 percent compared with 2,578 units sold in December 2018.

Total domestic sales rose by 30.01 percent to 2,517 units in December 2019 from 1,936 units in November 2019. The figure was also up by 52.55 percent YoY from 1,650 units in December 2018.

The company's total exports in the month of December 2019 rose over 30 percent at 230 units, up from 176 units in November 2019. The exports surged almost 390 percent YoY from 47 units in December 2018.

Force Motors' consolidated net profit declined 89.5 percent to Rs 4.19 crore on 14.1 percent decline in net sales to Rs 755.15 crore in Q2 September 2019 over Q2 September 2018.

Force Motors largely manufactures light commercial vehicles and utility vehicles, and engines.

Meanwhile, the benchmark indices declined sharply over geopolitical concerns. The 30-share benchmark BSE Sensex fell over 600 points to trade below the 41,000 mark. The Nifty50 traded above the 12,000 mark, down over 180 points.

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