Wheels India has soared 17% to Rs 286 on doubling Q2 net profit to Rs 10.98 crore as compared to Rs 5.14 crore in the corresponding quarter of previous fiscal. Net revenues grew 19% at Rs 496 crore on year-on-year basis.
Meanwhile, a TVS Group company has inked a technical agreement with Topy Industries, a leading maker of steel wheels in Japan. The technical collaboration is for process, design and development of steel passenger car wheels.
The stock opened at Rs 270 and hit a high of Rs 292 on the National Stock Exchange. A combined 11,000 shares have changed hands on the counter till 1011 hours.
