Wheels India scales record high on bonus plan

Wheels India surged 6.44% to Rs 2,573 at 10:03 IST on BSE after the company said that its board of directors may consider issue of bonus shares in its board meeting scheduled to be held on 22 June 2018.

The announcement was made after market hours yesterday, 19 June 2018.

Meanwhile, the BSE Sensex was up 95.08 points, or 0.27%, to 35,381.82.

On the BSE, 13,000 shares were traded in the counter so far compared with average daily volumes of 640 shares in the past two weeks. The stock had hit a high of Rs 2,654 so far during the day, also its record high. The stock had hit a low of Rs 2,487 so far during the day. The stock hit a 52-week low of Rs 1,287.90 on 28 June 2017.

The small-cap company has an equity capital of Rs 12.03 crore. Face value per share is Rs 10.

Wheels India's net profit rose 12.8% to Rs 19.47 crore on 25.67% decline in net sales to Rs 699.62 crore in Q4 March 2018 over Q4 March 2017.

Wheels India is company promoted by the TVS Group, India's largest auto component manufacturers production of wheels for commercial vehicles.

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