Steel Strips Wheels gains after winning export order

Steel Strips Wheels rose 1.07% to Rs 416.40 at 11:42 IST on BSE after the company said it has bagged an export order for European Winter wheels market.

The announcement was announced during trading hours today, 11 May 2016.

Meanwhile, the BSE Sensex was down 35.72 points, or 0.14%, to 25,736.81.

On BSE, so far 6,100 shares were traded in the counter, compared with an average volume of 7,464 shares in the past one quarter. The stock hit a high of Rs 423.10 and a low of Rs 403.80 so far during the day. The stock hit a 52-week high of Rs 458 on 28 December 2015. The stock hit a 52-week low of Rs 262.70 on 18 June 2015. The stock had outperformed the market over the past one month till 10 May 2016, rising 10.04% compared with 4.45% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.65% as against Sensex's 8.48% rise.

The small-cap company has an equity capital of Rs 15.26 crore. Face value per share is Rs 10.

Steel Strips Wheels said that the order will cover supplies of about 9,600 wheels with an order value of about 122,000 euros. The company is expecting this order to repeat in near future. The wheels will be supplied from the company's Chennai plant in India with the first supplies planned by end of this month.

Net profit of Steel Strips Wheels rose 55.12% to Rs 18.49 crore on 5.06% rise in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.

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

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