Steel Strips Wheels gained 3.37% to Rs 1,140.50 at 11:00 IST on BSE after the company announced that it has bagged another order of caravan wheels from Europe
The announcement was made during market hours today, 29 January 2018.Meanwhile, the S&P BSE Sensex was up 345.63 points or 0.96% at 36,396.07. The S&P BSE Small-Cap index was up 17.44 points, or 0.09%, to 19,359.62, underperforming the Sensex.
On the BSE, 767 shares were traded on the counter so far as against the average daily volumes of 5,173 shares in the past one quarter. The stock had hit a high of Rs 1,154 and a low of Rs 1,112.05 so far during the day. The stock had hit a record 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 stock had underperformed the market over the past one month till 25 January 2018, gaining 2.95% compared with 6.22% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 25.54% as against Sensex's 9.1% rise. The scrip had also outperformed the market in past one year, gaining 64.1% as against Sensex's 30.11% 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 bagged yet another exports order for supply of steel wheels for European Union (EU) caravan market.
The order comprises of 17,000 steel wheels to be shipped from SSWL's Chennai plant in the month of March 2018. SSWL has already established itself as a leading supplier of caravan Steel wheels in European region.
Net profit of Steel Strips Wheels rose 14.5% to Rs 18.17 crore on 29.6% rise in 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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