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Steel Strips Wheels (SSWL) has surged 14% to Rs 337 after the company said it is increasing the production capacity by 1.5 million wheels annually to cater to increasing demand from OEMs.
The total investment involved will be around Rs 5 crore and the new capacity will start yielding production by April 2015, SSWL said in a statement.
The combined capacity post this expansion will go to 18.1 million wheels across three plants of SSWL. This expansion is coming at the mother plant Dappar which is running at peak capacity of 85%, it added.
The stock opened at Rs 297 and touched a record high of Rs 342 on NSE. The trading volumes on the counter more than doubled with a combined 270,000 shares changed hands on the counter till noon deals on NSE and BSE.
The total investment involved will be around Rs 5 crore and the new capacity will start yielding production by April 2015, SSWL said in a statement.
The combined capacity post this expansion will go to 18.1 million wheels across three plants of SSWL. This expansion is coming at the mother plant Dappar which is running at peak capacity of 85%, it added.
The stock opened at Rs 297 and touched a record high of Rs 342 on NSE. The trading volumes on the counter more than doubled with a combined 270,000 shares changed hands on the counter till noon deals on NSE and BSE.
