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Steel Strips Wheels skyrockets on commencing exports to Audi

30 Dec 2011 Evaluate

Steel Strips Wheels is currently trading at Rs. 192.70, up by 16.05 points or 9.09% from its previous closing of Rs. 176.65 on the BSE.

The scrip opened at Rs. 179.05 and has touched a high and low of Rs. 193.20 and Rs. 177.15 respectively. So far 21758 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 365.00 on 04-Jan-2011 and a 52 week low of Rs. 162.00 on 23-Nov-2011.

Last one week high and low of the scrip stood at Rs. 194.85 and Rs. 175.50 respectively. The current market cap of the company is Rs. 263.10 crore.

The promoters holding in the company stood at 52.44% while Institutions and Non-Institutions held 2.97% and 44.60% respectively.

Steel Strips Wheels has begun exports to Audi from December 30, 2011 from its Chennai factory. The said business was awarded by Audi to the company in July, 2010. The awarded business has a potential of exports worth over $38 million (equivalent to Rs 201.40 crore) over 5 years period.

The company achieved a growth of 7% in the sale of 8.16 lakh steel wheel rims during the month of November, 2011 as against 7.63 lakh during the month of November, 2010. The company recorded a growth of 531% in sale of trucks and 56% in the sale of tractor during the month of November 2011 as compared to sales in November 2010.

The company achieved the export sales of 76,056 wheel rims during the month of November 2011 as against 57,212 wheel rims during the month of November, 2010, recording a growth of 33%.

The company is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors.

Steel Strips Wheels Share Price

212.45 2.10 (1.00%)
13-Apr-2026 16:59 View Price Chart
Peers
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SamvardhanaMotherson 119.00
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