 "Steel Strips Wheels rallies on good November sales")
Steel Strips Wheels (SSWL) has rallied 13% to Rs 617 on the BSE after the company reported 14% year on year (YoY) growth in total wheel rim sales of 1.20 million in November 2016. It sold 1.05 million wheel rim in November 2015.
“The sales were heavily skewed towards the heavier wheels indicating better financial performance of the company. The impact of demonetization seems limited and we expect normalcy to return in December 2016,” SSWL said in a statement.
In terms of value, the company achieved 22% YoY jump in net turnover of Rs 115 crore in November 2016 against Rs 94.70 crore in the same month previous year.
The trading volumes on the counter rose more than four-fold with a combined 133,969 equity shares changed hands on the BSE and NSE till 12:41 pm.
“The sales were heavily skewed towards the heavier wheels indicating better financial performance of the company. The impact of demonetization seems limited and we expect normalcy to return in December 2016,” SSWL said in a statement.
In terms of value, the company achieved 22% YoY jump in net turnover of Rs 115 crore in November 2016 against Rs 94.70 crore in the same month previous year.
The trading volumes on the counter rose more than four-fold with a combined 133,969 equity shares changed hands on the BSE and NSE till 12:41 pm.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%