Steel Strips Wheels rose 2.92% to Rs 341.50 at 12:26 IST on BSE after the company said it has secured an export order worth about euro 15 million from PSA Peugeot Citroen.
The announcement was made during market hours today, 28 March 2016.Meanwhile, the S&P BSE Sensex was down 136.04 points or 0.54% at 25,201.52.
On BSE, so far 5,295 shares were traded in the as against average daily volume of 13,522 shares in the past one quarter. The stock hit a high of Rs 350 and a low of Rs 334.30 so far during the day. The stock had hit a 52-week high of Rs 458 on 28 December 2015. The stock had hit a 52-week low of Rs 254.50 on 27 March 2015. The stock had outperformed the market over the past one month till 23 March 2016, surging 11.16% compared with the Sensex's 8.23% rise. The scrip had, however, underperformed the market in past one quarter, sliding 16.02% as against Sensex's 1.98% fall.
The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 10.
As part of the order, Steel Strips Wheels (SSWL) would supply wheels for PSA's upcoming new plant in Kenitra, Morocco and its existing plants. This business will help SSWL strengthen its position in the challenging EU steel wheels market, the company said in a statement.
Net profit of Steel Strips Wheels rose 62.2% to Rs 15.51 crore on 5.5% growth in net sales to Rs 281.19 crore in Q3 December 2015 over Q3 December 2014.
SSWL designs & manufacture automotive steel wheels and is among the leading supplier to Indian & global automobile manufacturers.
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