Moneycontrol
Dec 05, 2017 10:45 AM IST | Source: Moneycontrol.com

Steel Strips Wheels gains over 2% on bagging exports order

Order comprised of 18,500 newly developed steel wheel to be shipped from company's Chennai plant from current month onwards, the company said.

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Steel Strips Wheels share price gained 2.5 percent intraday Tuesday on bagging another exports order for supply of steel wheels for European Union caravan market.

Order comprised of 18,500 newly developed steel wheel to be shipped from company's Chennai plant from current month onwards, the company said.

On Monday, Steel Strips Wheels achieved total wheel rim sales of 12.92 lakh in November 2017 against 11.99 lakh, representing a growth of 8 percent YoY.

The volumes of truck segment helped post highest healthy revenue growth for the company, it said.

In terms of value, the company has achieved gross turnover of Rs 172.75 crore in November 2017 against 128.62 crore in November 2016, there by recording a growth of 34 percent and achieved net turnover of Rs 138.85 crore in November 2017 against Rs 115.25 crore in November 2016, recording a growth of 20 percent.

At 10:32 hours IST, the stock price was quoting at Rs 1,071.50, up Rs 22.35, or 2.13 percent on the BSE.
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