SSWL soars 4.8%; receives increase in orders from VW Argentina

India Infoline News Service | Mumbai | October 14, 2016 16:13 IST

The additional orders will result in additional forex earnings of more than $600,000 for the stated shipment period.

Steel Strips Wheels
Steel Strips Wheels Ltd ended at Rs 768.4, up by Rs 35.25 or 4.81% from its previous closing of Rs 733.15 on the BSE. SSWL total increase is from original order of 7,000 wheels to about 34,000 wheels in the shipment period of October 2016 to March 2017.

This is due to higher proliferation of the steel wheels usage per vehicle at VW's plant in Argentina and is expected to prevail in future. These additional orders will result in additional forex earnings of more than $600,000 for the stated shipment period.

The scrip opened at Rs 745.45 and touched a high and low of Rs 775 and Rs 744.4 respectively. A total of 153234 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1138.84 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 759.1 on 10-Oct-2016 and a 52 week low of Rs 284 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 759.1 and Rs 680 respectively.

The promoters holding in the company stood at 58.77 % while Institutions and Non-Institutions held 0.98 % and 40.25 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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