Steel Strips Wheels share price gains 1% on better Dec sales nos

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Steel Strips Wheels share price rose 1 percent intraday on January 2 after the company reported better sales numbers for the month ended December 2019.

It has achieved December 2019 total wheel rim sales of 11.94 lakh against 11.30 lakh in December 2018 representing a growth of 6 percent, YoY.

The company expect the momentum will continue based on good exports and Mehsana alloy wheel segment contribution.

It has achieved a gross turnover of Rs 153.71 crore in December 2019 against Rs 178.39 crore in December 2018, thereby recording a de-growth of 14 percent.

The company reported a net turnover of Rs 127.03 crore in December 2019 against Rs 148.46 crore in December 2018, recording a de-growth of 14 percent.

At 11:47 hrs, Steel Strips Wheels was quoting at Rs 775.00, up Rs 9.85, or 1.29 percent on the BSE.