Force Motors Shares Hit Record High After Robust March Sales, Production

Shares of Force Motors Ltd. extended a rally for the seventh consecutive trading session, their longest stretch of gains in eight months after its production and sales grew in March.

Total production increased 30.2% from the year ago period and stood at 3,152 units, according to an exchange filing on Friday.

Domestic sales also rose 33.8% on a yearly basis to 3,248 units, while its exports jumped 296% to 420 units.

Shares of the company hit an all-time high at 12.9%, before paring gains to trade 6.59% higher at 10:20 a.m., compared to a 0.47% advance in the Sensex.

The stock has returned 138% so far this year. Total traded volume stood at 5.5 times its 30-day average. The relative strength index was above 70, indicating it may be overbought.