The Securities and Exchange Board of India (Sebi) has sought details about Force Motors’ earnings for Q3FY24 and Q2FY25, and subsequent share price fluctuations. The regulator has asked for the share price details during February 15-20, 2024, chronology of events, details of designated persons, management information system, and extract of structured digital databases. Sebi is examining if these price fluctuations were linked to any non-compliance or leak of price-sensitive information.
“There is no material impact on the financial operations of the company at this stage,” Force Motors said in an exchange filing on Thursday. The passenger cars and utility vehicles company will also file a suitable reply to Sebi in this regard within the permissible timeline.
Following the news update, shares of Force Motors fell almost 4% intra-day on the National Stock Exchange before recovering and closing nearly 2% higher at ₹21,815. The stock is almost 14% down from its 52-week high of ₹26,450 it had hit in mid-February.
For the latest quarter ended December, the company had reported a whopping 250% on-year growth in its consolidated net profit at over ₹406 crore and nearly 13% rise in its revenue from operations at almost ₹2,129 crore.
