Steel Strips Wheels soars on higher export sales in February
The company registered a 63% year-on-year growth in export sales of 88,020 steel wheel rims during the month of February 2013.
Steel Strips Wheels has soared 12% to Rs 171 in noon deals after the company registered a 63% year-on-year growth in export sales of 88,020 steel wheel rims during the month of February 2013. The company had sold 54,014 steel wheel rims in the same month of previous year in overseas market.
However, the company said it has reported 8% fall in total sales at 769,000 wheel rims in February 2013 against 836,000 wheel rims during the month of February 2012.
The company is expected to achieve sale of 950,000 steel wheel rims in March 2013, it added.
The stock opened at Rs 150 and hit a high of Rs 172 on NSE. As many as a combined around 14,500 shares have changed hands on the counter so far against an average around 4,000 shares that were traded daily in past two weeks.
However, the company said it has reported 8% fall in total sales at 769,000 wheel rims in February 2013 against 836,000 wheel rims during the month of February 2012.
The company is expected to achieve sale of 950,000 steel wheel rims in March 2013, it added.
The stock opened at Rs 150 and hit a high of Rs 172 on NSE. As many as a combined around 14,500 shares have changed hands on the counter so far against an average around 4,000 shares that were traded daily in past two weeks.