 "Steel Strips Wheels extends gain post February sales")
Steel Strips Wheels (SSWL) was trading 3% higher at Rs 1,060, extending Thursday’s 1% gain on the BSE in an otherwise weak market, after the company reported 12% year on year (YoY) growth in total wheel rim sales of 1.3 million units in February 2018. It had sold total 1.17 million units during the same month last year.
“The robust growth in February was purely on account of company adding its new truck wheel capacity and all across segments reporting healthy growth run rate,” SSWL said in a press release.
In terms of value, the company has achieved 57% YoY jumped in gross turnover at Rs 1,937 million in February 2018 against Rs 1,230 million in February 2017.
SSWL on Wednesday, February 28, informed the stock exchanges that it had bagged another fresh exports order for its new truck wheels plant in Chennai.
“The total order size is close to 2,000 truck wheels to be supplied in next 2 months. The company has already marked its entry in the high potential truck and trailer steel wheels market in the European Union,” SSWL said in a press release.
The company expects to increase its presence in truck & trailer in the coming months given the world class manufacturing facility at its Chennai plant, it added.
Till 12:27 pm; a combined 15,122 equity shares changed hands on the counter on the BSE and NSE. The S&P BSE Sensex was trading 1% lower at 33,720.
“The robust growth in February was purely on account of company adding its new truck wheel capacity and all across segments reporting healthy growth run rate,” SSWL said in a press release.
In terms of value, the company has achieved 57% YoY jumped in gross turnover at Rs 1,937 million in February 2018 against Rs 1,230 million in February 2017.
SSWL on Wednesday, February 28, informed the stock exchanges that it had bagged another fresh exports order for its new truck wheels plant in Chennai.
“The total order size is close to 2,000 truck wheels to be supplied in next 2 months. The company has already marked its entry in the high potential truck and trailer steel wheels market in the European Union,” SSWL said in a press release.
The company expects to increase its presence in truck & trailer in the coming months given the world class manufacturing facility at its Chennai plant, it added.
Till 12:27 pm; a combined 15,122 equity shares changed hands on the counter on the BSE and NSE. The S&P BSE Sensex was trading 1% lower at 33,720.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%