Steel Strips Wheels gains after winning export order

Steel Strips Wheels rose 3.64% to Rs 873.50 at 13:55 IST on BSE after the company said it won export order worth 3.9 million euros from Europe for its truck wheels plant in Chennai.

The announcement was made during trading hours today, 3 November 2017.

Meanwhile, the S&P BSE Sensex was up 109.27 points, or 0.33% to 33,682.49.

On the BSE, 1,388 shares were traded in the counter so far, compared with average daily volumes of 1,658 shares in the past one quarter. The stock had hit a high of Rs 877.90 and a low of Rs 855 so far during the day. The stock hit a record high of Rs 956.60 on 12 June 2017. The stock hit a 52-week low of Rs 481.10 on 22 November 2016.

The stock had underperformed the market over the past one month till 2 November 2017, falling 3.09% compared with 6% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.65% as against Sensex's 3.86% rise. The scrip had outperformed the market in past one year, rising 29.07% as against Sensex's 22.39% rise.

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

Steel Strips Wheels said the order is for exporting 10,000 wheels.

Net profit of Steel Strips Wheels fell 5.1% to Rs 16.41 crore on 4.3% drop in net sales to Rs 311.74 crore in Q1 June 2017 over Q1 June 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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