Steel Strips Wheels gains after reporting decent Q4 results

Steel Strips Wheels advanced 3.7% to Rs 864 at 14:31 IST on BSE after net profit rose 12.11% to Rs 20.73 crore on 22.67% increase in total revenue to Rs 428.96 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 137.96 points, or 0.44% at 31,166.17. The S&P BSE Small-Cap index was down 138.17 points, 0.92% at 14,948.09.

On the BSE, 2,549 shares were traded on the counter so far as against the average daily volumes of 4,037 shares in the past one quarter. The stock had hit a high of Rs 865 and a low of Rs 828 so far during the day.

The stock had hit a record high of Rs 952.90 on 24 April 2017 and a 52-week low of Rs 379.25 on 30 May 2016. The stock had underperformed the market over the past one month till 26 May 2017, declining 9.51% compared with the Sensex's 2.97% rise. The scrip had, however, outperformed the market over the past one quarter advancing 21.03% as against the Sensex's 7.39% rise.

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

Steel Strips Wheels' board recommended a final dividend of Rs 3 per equity share for the year ended March 2017.

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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