Steel Strips Wheels up as June sales rise 15%

Sales in June 2015 jumped 15% drive by the truck segment

Shares of Steel Strips Wheels were up over 2% at Rs 298 on the Bombay Stock Exchange after the company reported robust sales in June driven by the truck segment.

Gross turnover for June 2015 stood at Rs 114.37 crore, up 15% compared with Rs 99.52 crore in June 2014. Net turnover for June 2015 was up 14.3% at Rs 102.88 crore compared with Rs 89.94 crore in the same month last year, the company said in a release.

Segment wise, wheel rim sales in the truck segment surged 64% while passenger car segment witnessed 23% growth during June, the released added.

The stock opened at Rs 295 and touched a high of Rs 306. At 12:35PM, over 25,000 shares were traded on both the stock exchanges.