Steel Strips Wheels rose 1.16% to Rs 279 at 13:07 IST on BSE after the company said it has secured an export order from ALCAR.
The new order was announced during market hours today, 7 July 2014.
Meanwhile, the S&P BSE Sensex was up 45.37 points or 0.17% at 26,007.43.
On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 76,000 shares in the past two weeks.
The stock hit a high of Rs 286.90 and a low of Rs 269.40 so far during the day.
Steel Strips Wheels (SSWL) said it has bagged an export order from ALCAR. The order will cater to the after-market demand. The order is worth 30,000 wheels and will cater to passenger car segment, SSWL said. The order will serve the EU & Russian market, the company said. SSWL said it is expecting this order to be a repeat order and will add volumes to existing sales going forward.
SSWL said it is constantly looking to address global after market demand given the size of the market. With this order the effort to target after market segment will get a boost and gain momentum, SSWL added. The company further said that it is increasingly looking at supplying the entire range of SSWL export product portfolio which shall cater to across segment vehicles.
SSWL's net profit declined 50.9% to Rs 4.27 crore on 34.6% growth in net sales to Rs 305.36 crore in Q4 March 2014 over Q4 March 2013.
Steel Strips Wheels manufactures automotive steel wheels since 1991. Its product range comprises wheels for passenger cars, multi utility vehicles, tractors, trucks, as well as two and three wheelers. It currently has three production facilities. It mainly produces passenger car wheels in Dappar (Chandigarh) and Oragadam (Chennai) and truck wheels in Jamshedpur.
Powered by Capital Market - Live News
