Steel Strips Wheels jumps after good sales in November

Steel Strips Wheels surged 6.1% to Rs 1,070 at 11:49 IST on BSE after the company said its total wheel rim sales grew by 8% to 12.92 lakh units in November 2017 over November 2016.

The announcement was made during market hours today, 4 December 2017.

Meanwhile, the S&P BSE Sensex was up 111.03 points or 0.34% at 32,943.97. The S&P BSE Small-Cap index advanced 0.03%, underperforming the Sensex.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 4,415 shares in the past one quarter. The stock had hit a high of Rs 1,097 and a low of Rs 1,004 so far during the day. The stock had hit a record high of Rs 1,100.95 on 1 December 2017 and a 52-week low of Rs 548 on 26 December 2016.

The stock had outperformed the market over the past one month till 1 December 2017, advancing 21% compared with the Sensex's 2.28% fall. The stock had also outperformed the market over the past one quarter, gaining 15.56% as against the Sensex's 2.95% rise. The scrip had also outperformed the market over the past one year, advancing 59.58% as against the Sensex's 23.62% rise.

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

In terms of value, Steel Strips Wheels' (SSWL) net turnover rose 20% to Rs 138.85 crore in November 2017 over November 2016, driven by record growth in truck segment and the company expects this trend to continue going ahead.

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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