Steel Strips Wheels rose 5.12% to Rs 396.50 at 12:10 IST on BSE after the company said it bagged an export order from Jaguar Land Rover.
The announcement was made during trading hours today, 1 December 2015.
Meanwhile, the BSE Sensex was up 69.56 points, or 0.27%, to 26,215.23.
On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 7,497 shares in the past one quarter.
The stock hit a high of Rs 403 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 381 so far during the day. The stock 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 30 November 2015, rising 6.58% compared with 1.92% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.72% as against Sensex's 0.93% decline.
The small-cap company has an equity capital of Rs 15.26 crore. Face value per share is Rs 10.
Steel Strips Wheels (SSWL) announced that it has secured an export order from Jaguar Land Rover (JLR). This order is one of SSWL's biggest export order. The company will supply products to JLR's UK and one more European facility.
The wheels will be supplied from SSWL's Chennai plant in India with the first supplies planned to start from February 2016.
SSWL said it looks to forging a strong working relationship with JLR.
Steel Strips Wheels' net profit rose 28.2% to Rs 15.03 crore on 5.2% decline in net sales to Rs 299.27 crore in Q2 September 2015 over Q2 September 2014.
Steel Strips Wheels designs and manufactures automotive steel wheels since 1991 and is among the leading supplier to Indian and global automobile manufacturers. The company's product range comprises steel wheels for two and three wheelers, passenger cars, multi utility vehicles, tractors, trucks and OTR vehicles.
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