SSWL in top gear after overseas order win

Steel Strips Wheels gained 3.03% to Rs 1,078 at 11:15 IST on BSE after the company said that it has bagged an export order for supply of steel wheels for European Union Caravan market.

The announcement was made during market hours today, 12 February 2018.

Meanwhile, the S&P BSE Sensex was up 226.84 points or 0.67% at 34,232.60. The S&P BSE Small-Cap index was up 303.71 points, or 1.67%, to 18,476.69.

On the BSE, 2,298 shares were traded on the counter so far as against the average daily volumes of 5,327 shares in the past one quarter. The stock had hit a high of Rs 1,114.90 and a low of Rs 1,059 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 660 on 13 February 2017.

The stock had underperformed the market over the past 30 days till 9 February 2018, falling 11.1% compared with 1.44% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 19.35% as against Sensex's 2.07% rise. The scrip had also outperformed the market in past one year, gaining 49.87% as against Sensex's 20.02% rise.

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

Steel Strips Wheels (SSWL) said that the order comprises of 19,500 steel wheels to be shipped from the company's Chennai plant in March 2018.

Net profit of Steel Strips Wheels rose 14.5% to Rs 18.17 crore on 29.6% rise in net sales to Rs 377.93 crore in Q2 September 2017 over Q2 September 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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