Steel Strips Wheels rises on plans to incorporate WOS in Morocco

Steel Strips Wheels Ltd. | Auto Ancillary | Automobiles | BSE: 513262 | NSE: SSWL

14 Feb 2012 Evaluate

Steel Strips Wheels is currently trading at Rs. 236.15, up by 2.00 points or 0.85% from its previous closing of Rs. 234.15 on the BSE.

The scrip opened at Rs. 231.80 and has touched a high and low of Rs. 236.15 and Rs. 223.75 respectively. So far 13,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 339.95 on 05-Apr-2011 and a 52 week low of Rs. 162.00 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 245.00 and Rs. 208.80 respectively. The current market cap of the company is Rs. 350.00 crore.

The promoters holding in the company stood at 52.48% while Institutions and Non-Institutions held 2.74% and 44.78% respectively.

Steel Strips Wheels (SSWL) will incorporate wholly owned subsidiary (WOS) company in Morocco for setting up a wheel manufacturing plant at Melloussa Jouamaa Free Zone, in the Kingdom of Morocco. The board at its meeting held on February 13, 2012 has approved for the same.

The proposed plant shall manufacture wheel rims for passenger cars/ multi-utility vehicles, with a production capacity of 2.5 million wheel rims per annum in its first phase which will be enhanced to 5.00 million wheel rims per annum in its second phase. The expected total cost of the first phase of the proposed plant will be Euro 28.64 million equivalent to Rs 186 crore. The proposed plant will be located about 13 kilometers away from the Renualt-Nissan Car manufacturing facility in Meloussa and 25 kilometers away from the Tangier sea port.

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

212.55 -1.60 (-0.75%)

30-Apr-2026 16:59 View Price Chart

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