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SSWL slips despite achieving total wheel rim sales of 11.28 lakh in June

Steel Strips Wheels is currently trading at Rs. 781.30, down by 5.50 points or 0.70% from its previous closing of Rs. 786.80 on the BSE.

The scrip opened at Rs. 782.00 and has touched a high and low of Rs. 785.00 and Rs. 780.00 respectively. So far 200 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1341.20 on 11-Jul-2018 and a 52 week low of Rs. 774.50 on 20-Jun-2019.

Last one week high and low of the scrip stood at Rs. 798.70 and Rs. 778.00 respectively. The current market cap of the company is Rs. 1216.00 crore.

The promoters holding in the company stood at 58.79%, while Institutions and Non-Institutions held 1.02% and 40.19% respectively.

Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 11.28 lakh in June 2019 as against 12.66 lakh in June 2018, representing a de-growth of 10% Y-o-Y. The June month had a shutdown coupled with major inventory reduction exercise going on at all car manufacturer’s end. The company expects this to continue in July and come to normal levels of inventory by July to normalize production.

SSWL 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. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.

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