Steel Strips Wheels shares up over 2% on robust October sales numbers

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Steel Strips Wheels share price added over 2 percent after the company posted robust sales numbers for the month of October.

The company achieved a gross turnover of Rs 214.64 crore in October 2020 versus Rs 125.79 crore in October 2019, recording a growth of 70 percent.

It also achieved a 68.5 percent growth in net turnover of Rs 175.29 crore in October 2020 versus Rs 104 crore in the corresponding month of the previous fiscal.

The company achieved October 2020 total wheel rim sales of 14.85 lakh versus 10.55 lakh in October 2019 representing a growth of 41 percent.

The company's alloy wheel and exports sales were at an all-time high, as per company release.

At 12:24 hrs, Steel Strips Wheels was quoting at Rs 480.75, up Rs 6.95, or 1.47 percent.