Steel Strips Wheels zooms after November auto sales

India Infoline News Service | Mumbai | December 01, 2016 17:41 IST

Passenger car segment grew 22% in November 2016 YoY. The PV segment growth stood solid despite the impact owing to demonetisation indicating limited impact and the segment can weather the storm with SSWL penetrating more in this segment with each customer.

Steel Strips Wheels
Steel Strips Wheels Ltd is currently trading at Rs 631.95, up by Rs 86.05 or 15.76% from its previous closing of Rs 545.9 on the BSE. Passenger car segment grew 22% in November 2016 YoY. The company saw a turnover growth of 22% for the month of November led by a strong performance in the tractor and the commercial vehicle segment.

While total wheel-rim sales grew 14% in the year-on-year period, a high base in the previous year led to the export segment seeing a degrowth of 24 percent this month.

The PV segment growth stood solid despite the impact owing to demonetisation indicating limited impact and the segment can weather the storm with SSWL penetrating more in this segment with each customer.

The scrip opened at Rs 548.4 and has touched a high and low of Rs 649 and Rs 548.4 respectively. So far 443120(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 847.97 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 775 on 14-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 549.9 and Rs 509 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 is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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