Steel Strips Wheels rose 1.46% to Rs 1,144 at 10:20 IST on BSE after the company said that it has bagged another exports order from US truck and trailer aftermarket for its truck steel wheels plant in Chennai.
The announcement was made during market hours today, 31 January 2018.Meanwhile, the S&P BSE Sensex was down 52.52 points or 0.15% at 35,981.21. The S&P BSE Small-Cap index was up 37.37 points, or 0.2%, to 18,910.95, outperforming the Sensex.
On the BSE, 264 shares were traded on the counter so far as against the average daily volumes of 2,077 shares in the past two weeks. The stock had hit a high of Rs 1,125.45 and a low of Rs 1,090 so far during the day. The stock had hit a 52-week high of Rs 1,225 on 10 January 2018. The stock had hit a 52-week low of Rs 660 on 13 February 2017.
The order comprises of 4,200 truck wheels to be shipped from the company's Chennai truck plant in next 2 months. The company is in discussions with other large truck & trailer makers in USA and expects to get more orders in this segment in near future.
The company expects to increase its presence in high potential truck & trailer wheels market in US & EU in the coming months.
Net profit of Steel Strips Wheels rose 14.5% to Rs 18.17 crore on 29.6% rise in net sales to Rs 377.93 crore in Q2 September 2017 over Q2 September 2016.
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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