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Drive Motors Shares Acquire After Gross sales Bounce 39% In September

Shares of the Mumbai-based utility automobile maker – Drive Motors – rose as a lot as 5 per cent to hit an intraday excessive of Rs 1,555.40 after the corporate put up market hours on Tuesday reported its gross sales and manufacturing numbers for the month of September. Drive Motors’ home gross sales in September superior 39 per cent to 1,968 items in contrast with 1,418 items bought throughout the identical month final yr. Its manufacturing in September jumped 44 per cent to 2,159 items. Drive Motors’ gross sales from exports jumped 25 per cent to 272 items, the corporate’s alternate submitting confirmed.

Within the month of September Drive Motors bought 1,144 items of small business autos (scv) and light-weight business automobile whereas gross sales for utility autos (uv), sports activities utility autos (suv) and tractors got here in 824 items.

Manufacturing for Small and light-weight business autos got here in at 1,391 items and it produced 768 sports activities utility autos (suv), tractors and utility autos.

A complete of 5,607 shares Drive Motors shares modified palms on the BSE in contrast with a mean of 4,923 shares traded day by day prior to now two weeks. On the Nationwide Inventory Alternate, 1.45 lakh shares of the corporate modified palms by 12:06 pm.

Drive Motors shares have thus far this yr superior 14.24 per cent, underperforming the Sensex which has gained 26 per cent.

As of 12:08 pm, Drive Motors shares traded 2.2 per cent increased at Rs 1,514, outperforming the Sensex which was up 0.22 per cent.

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