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SSWL declines for fifth consecutive day

Capital Market 

Steel Strips Wheels (SSWL) skid 0.20% to Rs 429.20, extending losses for the fifth session.

The stock has lost 2.38% in five sessions from its recent closing high of Rs 439.65 on 20 July 2020. The S&P BSE SmallCap index has shed 0.12% during the same period.

During market hours today, SSWL announced that it bagged firm export orders for close to 70,000 wheels for EU Caravan Trailer Market for over 429K euros from Europe. The order is to be executed in September & October and will be supplied by Chennai Steel Wheels plant, the company said.

SSWL is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.

The company's standalone net profit slumped 68% to Rs 6.29 crore on a 28.8% decline in net sales to Rs 343.60 crore in Q3 December 2019 over Q3 December 2018. The company is yet to announce its Q4 March 2020 results.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 27 2020. 14:00 IST