Wheels India is currently trading at Rs. 1880.10, up by 234.75 points or 14.27% from its previous closing of Rs. 1645.35 on the BSE.
The scrip opened at Rs. 1700.00 and has touched a high and low of Rs. 1944.00 and Rs. 1699.75 respectively. So far 3350 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1944.00 on 07-Nov-2017 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. 1944.00 and Rs. 1599.95 respectively. The current market cap of the company is Rs. 2238.00 crore.
The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 8.41% and 16.59% respectively.
Wheels India has reportedly signaled at a resumption of capex cycle as the capacity constraints emerge after a long gap. The company’s commercial vehicle segment is expected to maintain the projected growth, while passenger cars will continue to maintain the momentum driven by a few top players.
Moreover, tractors segment is also expected to maintain the momentum with some moderation during the November-January period and the construction equipment sector is bullish on sustaining double-digit growth on the back of government’s continuing focus on infrastructure spend. Thus, the businesses that the company serves present a favourable growth outlook. However, the wind energy component business is facing challenges.
Wheels India is company promoted by the TVS Group, India’s largest auto component manufacturers. It is one of the largest steel wheel manufacturers in the world.
