1190% rally in 5 years! Multibagger stock Force Motors jumps 7% on defence order win

Force Motors share price jumped over 7% in early trade on Friday after the company received a significant order from the Indian Defence Forces. Force Motors shares rallied as much as 7.5% to ₹9,444.85 apiece on the BSE.

Force Motors announced that it has been declared as L1 vendor for the procurement of 2,978 units of Force Gurkha light vehicles by Indian Defence Forces.

While the company did not disclose the total value of the order, it said the time period by which the order is to be executed is maximum within 3 years in multiple tranches.

“These vehicles are tailored to meet the diverse operational requirements of both the Indian Army and the Indian Air Force, showcasing Force Motors’ capability to deliver mission-ready vehicles designed to perform in demanding defence environments. Force Motors has been catering to the defence sector for many years through its Gurkha LSV (Light Strike Vehicle) , a vehicle renowned for its durability, off-road prowess, and adaptability,” Force Motors said in a regulatory filing on March 27.

The Force Gurkha, in particular, has been engineered to excel in the most extreme environments, offering unparalleled performance, superior ground clearance, the highest water wading capacity in its class, and exceptional maneuverability, it added.

Multibagger Stock Delivers 1190% returns in 5 years

Force Motors share price has witnessed a remarkable rally, registering a 38% gain year-to-date (YTD). Over the past six months, the stock has risen by 20%, while in the last one year, it has appreciated by 27%.

Notably, Force Motors stock has surged 734% over the past two years, delivering multibagger returns of 1,190% over the last five years.

At 9:45 AM, Force Motors shares were trading 4.56% higher at ₹9,186.50 apiece on the BSE.

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