Wheels India hits 52-week high on inking pact with South Korea's SHPAC

Wheels India shares jumped 6.3 per cent on BSE after the company signed an agreement with SHPAC, a leading hydraulic cylinder manufacturer in South Korea, for a technology transfer in manufacturing.

Wheels India shares jumped 6.3 per cent on BSE, logging a 52-week high at ₹918 per share. At 12:31 PM, Wheels India’s share price was trading 2.77 per cent higher at ₹887.45 per share on BSE. In comparison, the BSE Sensex was flat at 80,423.26.

 

The company’s market capitalisation stood at ₹2,168.31 crore. The stock’s 52-week low was at ₹548.

Why were Wheels India shares surging?

The buying on the counter came after the company signed an agreement with SHPAC, a leading hydraulic cylinder manufacturer in South Korea, for a technology transfer in manufacturing. The company has identified hydraulic cylinders as one of its strategic growth areas, and the pact is expected to accelerate expansion in this segment.

 

“It has been our stated intent to focus and grow the hydraulics cylinder business significantly over the next few years. We believe this business segment has the potential to be an important growth driver for Wheels India globally, going forward. We expect to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business as opportunities arise,” said Srivats Ram, MD, Wheels India. 

 

Last year, the company crossed the milestone of ₹100 crore in net profit. For Q1 ended June 30, 2025, Wheels India registered Net Profit of ₹26.44 crore on revenues of ₹1,187 crore with export revenues crossing the ₹300 crore mark.

 

Wheels India is a manufacturer of wheels for trucks, agricultural tractors, passenger vehicles and construction equipment; air suspension systems for trucks and buses, and industrial components for the construction and windmill industry with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand.

 

In October 2024, Srivats Ram had said, “We are confident of doubling the hydraulics business in the next 2-3 years from the current level of over ₹150 crore.”

 

Wheels India was proceeding with its plan, committing ₹225 crore towards capital expenditure for this year, he said. The city-headquartered company has already earmarked about ₹225 crore for taking up the expansion of the machining of windmill castings, agricultural wheels, cast aluminium wheels, and hydraulic cylinders business.