Steel Strips Wheels rose 1.55% to Rs 408.45 at 11:14 IST on BSE after the company said it has secured an export order valued at about $225,000 for Canadian Winter Wheels market.
The announcement was made during market hours today, 23 May 2016.Meanwhile, the S&P BSE Sensex was up 48.36 points or 0.19% at 25,350.26.
On BSE, so far 2,762 shares were traded in the counter as against average daily volume of 7,454 shares in the past one quarter. The stock hit a high of Rs 414 and a low of Rs 402.50 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 262.70 on 18 June 2015. The stock had outperformed the market over the past one month till 20 May 2016, advancing 0.98% compared with Sensex's 2.1% fall. The scrip had also outperformed the market in past one quarter, surging 35.19% as against Sensex's 6.72% rise.
The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 10.
The order will cover supplies of about 17,000 wheels. The wheels will be supplied from Steel Strips Wheels' (SSWL) Dappar & Chennai plants in India with the first supplies planned by end of mid of next month, SSWL said in a statement. SSWL plans to strengthen its base in the high potential Canadian after-market and expects to see increased business in this geography in the coming years.
SSWL's net profit jumped 55.1% to Rs 18.49 crore on 5.1% growth in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.
Steel Strips Wheels designs & manufacture automotive steel wheels and is among the leading supplier to Indian & global automobile manufacturers.
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