Steel Strips Wheels rose 1.35% to Rs 270.20 at 14:00 IST on BSE after the company said it bagged export order worth close to $1.5 million from European after market segment.
The announcement was made during trading hours today, 15 June 2015.
Meanwhile, the BSE Sensex was up 248.37 points, or 0.94%, to 26,673.67.
On BSE, so far 9,078 shares were traded in the counter, compared with an average volume of 5,606 shares in the past one quarter.
The stock hit a high of Rs 285.50 and a low of Rs 265.80 so far during the day. The stock hit a 52-week high of Rs 395.95 on 19 January 2015. The stock hit a 52-week low of Rs 170.25 on 23 June 2014.
The stock had underperformed the market over the past one month till 12 June 2015, falling 12.04% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 19.09% as against Sensex's 8.66% fall.
The small-cap company has an equity capital of Rs 15.26 crore. Face value per share is Rs 10.
Steel Strips Wheels (SSWL) announced that it bagged an export order for 50,000 wheels from European after market. Order value is close to $1.5 million and would be executed starting June 2015. The order will cater passenger car & truck segment and will increase the company's presence in European after market. SSWL is in advance discussion with various global after market players in Belgium & North America for its portfolio of wheels and further expecting order in next month. SSWL will start its truck segment exports shortly by the way of this after market supplies, the company said in a statement.
SSWL's net profit rose 179.2% to Rs 11.92 crore on 3.7% decline in net sales to Rs 293.99 crore in Q4 March 2015 over Q4 March 2014.
SSWL designs & manufacture automotive steel wheels since 1991 and is among the leading supplier to Indian & global automobile manufacturers. The company' product range comprises steel wheels for two and three wheelers, passenger cars, multi utility vehicles, tractors, trucks & OTR vehicles.
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