Wheels India is currently trading at Rs. 1340.00, up by 25.45 points or 1.94% from its previous closing of Rs. 1314.55 on the BSE.
The scrip opened at Rs. 1360.00 and has touched a high and low of Rs. 1360.00 and Rs. 1340.00 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1417.00 on 09-Aug-2016 and a 52 week low of Rs. 1081.00 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs. 1,360.00 and Rs. 1,261.00 respectively. The current market cap of the company is Rs. 1613.53 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 7.90% and 17.10% respectively.
Wheels India (WIL) and Topy Industries (Topy), Japan have reached an agreement regarding a strategic partnership in the passenger car steel wheels business in India, whereby Topy will acquire a 26% stake in WIL Car Wheels (WCWL), a wholly-owned subsidiary of WIL. The investment will be made through new issue of equity shares by WCWL to Topy. Subject to relevant regulatory approvals, the transaction is expected to be completed in a few months.
WCWL was set up by Wheels India to carry on the passenger car steel wheel business in India. Wheels India has entered into agreements to transfer its entire passenger car steel wheel business carried out at its plants in Padi, Chennai, and Bawal, Haryana, on a slump sale basis, to the new company.
With this transfer, WCWL will have a leadership position in the passenger car steel wheels segment, catering to all major automobile manufacturers in India as well as to the export segment.
