SSWL gains after overseas order win

Steel Strips Wheels rose 1.6% to Rs 1,083.75 at 11:41 IST on BSE after the company announced bagging of exports order for supply of steel wheels for UK Aftermarket.

The announcement was made during market hours today, 21 March 2018.

Meanwhile, the S&P BSE Sensex was up 277.19 points or 0.84% at 33,273.95. The S&P BSE Small-Cap index was up 184.81 points, or 1.07%, to 17,376.78.

On the BSE, 130 shares were traded on the counter so far as against the average daily volumes of 846 shares in the past two weeks. The stock had hit a high of Rs 1,083.75 and a low of Rs 1,070.10 so far during the day. The stock had hit a record high of Rs 1,225 on 10 January 2018. The stock had hit a 52-week low of Rs 709 on 20 March 2017.

The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) announced bagging of exports order for supply of steel wheels for UK Aftermarket. Total order covers supplies of approx. 7,000 wheels in a period of 30 days. Wheels will be dispatched from the company's Chennai & Dappar plant from this month onwards. This order further augments SSWL's strong presence in the extremely competitive UK Aftermarket for steel wheels.

Steel Strips Wheels' net profit rose 43.58% to Rs 18.12 crore on 18.19% rise in total income to Rs 398.92 crore in Q3 December 2017 over Q3 December 2016.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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