Steel Strips Wheels gains after securing order

Steel Strips Wheels rose 1.05% to Rs 889 at 14:27 IST on BSE after the company said it has received additional caravan wheel order from Europe.

The announcement was made during market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 170.29 points, or 0.54% at 31,881.28. The S&P BSE Small-Cap index was up 142.97 points, or 0.9% at 15,960.57.

On the BSE, 3,940 shares were traded on the counter so far as against the average daily volumes of 4,481 shares in the past one quarter. The stock was volatile. The stock rose as much as 4.35% at the day's high of Rs 918 so far during the day. The stock rose 0.03% at the day's low of Rs 880 so far during the day. The stock had hit a record high of Rs 956.60 on 12 June 2017 and a 52-week low of Rs 467 on 19 July 2016.

The stock had underperformed the market over the past one month till 18 July 2017, declining 2.95% compared with the Sensex's 2.11% rise. The scrip had also underperformed the market over the past one quarter sliding 4.19% as against the Sensex's 8.16% rise. The scrip had, however, outperformed the market over the past one year advancing 85.86% as against the Sensex's 14.29% 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 it bagged yet another exports order for supply of steel wheels for EU caravan market. This order covers supplies of approximately 31,000 steel wheels in a period of 3 months. Wheels will be shipped from SSWL's Chennai plant beginning from August 2017. This repeat order strengthens SSWL's position as a strong player in caravan wheels market in Europe region.

Steel Strips Wheels' net profit rose 12.2% to Rs 20.74 crore on 23.1% increase in net sales to Rs 380.15 crore in Q4 March 2017 over Q4 March 2016.

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

Powered by Capital Market - Live News