Steel Strips Wheels rose 2.23% to Rs 990 at 10:54 IST on BSE after the company said it bagged another exports order from BMW.
The announcement was made during trading hours today, 21 February 2018.Meanwhile, the S&P BSE Sensex was up 33.99 points, or 0.10% to 33,737.58.
On the BSE, 292 shares were traded in the counter so far compared with average daily volumes of 5,528 shares in the past one quarter. The stock had hit a high of Rs 993.90 and a low of Rs 980.10 so far during the day. The stock hit a record high of Rs 1,225 on 10 January 2018. The stock hit a 52-week low of Rs 678.80 on 22 February 2017.
The stock had underperformed the market over the past 30 days till 20 February 2018, falling 12.02% compared with 5.85% fall in the Sensex. The scrip had outperformed the market in past one quarter, rising 21.73% as against Sensex's 0.42% rise. The scrip had also outperformed the market in past one year, rising 39.05% as against Sensex's 17.18% rise.
The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 10.
Steel Strips Wheels (SSWL) announced that it has secured another export order from German original equipment manufacturer (OEM), BMW. SSWL's Chennai plant will supply approximately 46,000 steel wheels to BMW's Leipzig plant in Germany from the next financial year onwards. SSWL said it has been in strong business relationship with BMW since last 8 years.
Net profit of Steel Strips Wheels rose 43.58% to Rs 18.12 crore on 19.43% rise in net sales to Rs 397.44 crore in Q3 December 2017 over Q3 December 2016.
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Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.
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