Steel Strips Wheels gains on highest ever sales in July

The company records highest ever sale of 11.03 lac wheel rims during July 2014

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SI Reporter Mumbai
Last Updated : Aug 01 2014 | 2:12 PM IST
Shares of Steel Strips Wheels were up 3% at Rs 300 after the company registered its highest ever sale of 11.03 lac wheel rims during July 2014.

Wheel rim sales in July 2014 increased 25% to 11.03 lac wheel rims compared with 8.82 lac wheel rims in July 2013, the company said in a release.

The growth was driven by passenger car, 2-3 wheelers, LCV and MHCV segments. Export volumes in July 2014 rose 14% to 1.42 lacs compared with 1.24 lacs in July 2013.

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Passenger car segment grew 21%, 2 & 3 wheeler segment volumes jumped 52% while LCV and MHCV segment volumes surged 57% in July compared to the same month last year, the release said.

The stock opened at Rs 291 on the BSE and touched an intra-day high of Rs 311 so far. Over 130,000 shares were traded on both the stock exchanges so far.

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First Published: Aug 01 2014 | 2:10 PM IST

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