SSWL hits 5% UC

Today morning, Steel Strip Wheels Ltd (SSWL) reported a strong performance for the month of November.

The company which produces a wide variety of diameters, rim widths and finishes in steel wheels, recorded a 83% (YoY) jump in net turnover at Rs.292 crore while Gross turnover rose 74% at Rs.342 crore.

Exports rose 287% and in terms of segment, trucks showed the biggest jump at 82%, followed by passenger cars at 47%, tractors at 8% while 2 & 3 wheelers showed a 39% contraction.

Following this update, the stock price is up in the green, the stock opened in the green at Rs.750 but soon jumped up to hit the 5% UC of the day at Rs.784.45. Its 52-week high is at Rs.995.