Steel Strips Wheels rose 4.45% to Rs 304.10 at 13:05 IST on BSE after the company said total wheel rim sales rose 25% to 11.03 lakh units in July 2014 over July 2013.
The company made the announcement during trading hours today, 1 August 2014.
Meanwhile, the BSE Sensex was down 125.30 points, or 0.48%, to 25,769.67.
On BSE, so far 32,000 shares were traded in the counter, compared with an average volume of 22,912 shares in the past one quarter.
The stock hit a high of Rs 311 and a low of Rs 290 so far during the day. The stock hit a 52-week high of Rs 317.40 on 22 July 2014. The stock hit a 52-week low of Rs 111.50 on 20 August 2013.
The stock had outperformed the market over the past one month till 31 July 2014, rising 4.73% compared with 1.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 89.55% as against Sensex's 15.51% rise.
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The small-cap company has an equity capital of Rs 15.21 crore. Face value per share is Rs 10.
Steel Strips Wheels (SSWL) said the growth momentum is catching up with upcoming festive season. The momentum is very strong and may push it to revise upward the quarterly guidance provided by the company last month.
In terms of value, SSWL's gross turnover rose 23% to Rs 115.51 crore in July 2014 over July 2013. Net turnover rose 23% to Rs Rs 104.29 crore in July 2014 over July 2013.
Passenger car segment grew 21% in July 2014 over July 2013. 2 & 3 wheeler segment volumes grew by 52% in July 2014 over July 2013. Light commercial vehicle (LCV) and medium and heavy commercial vehicles (MHCV) segment volumes grew by 57% in July 2014 over July 2013. Tractor segment volumes dropped by 9% in July 2014 over July 2013.
Exports volume grew by 14% to 1.42 lakh in July 2014 over July 2013. The export volumes are picking up and with new orders from aftermarket segment from Russia will aid volumes and as they are repeat orders they will be a part of regular business from now onwards, the company said in a statement.
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 (Punjab) and Oragadam (Chennai) and truck wheels in Jamshedpur.
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