with a market valuation of 2,363.51 Crore, Steel Strips Wheels Limited is a Small-cap company engaged in Auto Accessories industry. The company is a leader in the design and manufacture of steel and alloy automotive wheels. The company has production plants at Dappar (Punjab), Oragadam (Chennai), Jamshedpur (Jharkhand), Mehsana (Gujarat), and Seraikela (Jharkhand) besides its headquarters in Chandigarh. To ascertain the eligibility of shareholders for the same, the Board of Directors during its meeting today announced the record date for stock split.
Today the company in a stock exchange filing said that “Our letter dated 20.10.2022 w.r.t. “Results of the Board Meeting” and continues in accordance with Regulation 42 of SEBL (Listing Obligation and Disclosure Requirements) Regulations 2015 (“SEBI Regulations”). We would like to inform you that the Board of Directors of the Company in its meeting held today i.e. 20.10.2022 has fixed the record date as Friday, 11th November, 2022 for the purpose of ensuring the eligibility of shareholders as per the sub-division of the Company. 5 (five) equity shares of face value of 5/- each of the existing 1 (one) equity shares of the equity shares 1 Approved by the Shareholders at the 36th Annual General Meeting held every Friday, 30 September 2022.”
Steel Strips Wheels net profit fell 13.04% year-on-year 54.61 crore in Q2FY23 from 62.80 crore in Q2FY22. Sales climb 12.84% YoY in Q2FY23 from 1081.09 crore 958.04 crore in the same quarter last year.
Steel Stripes Wheels Ltd shares closed today 754.90 each, down 3.47% from previous close 782. In trading on Thursday, the stock recorded a total volume of 105,672 shares compared to the 20-day average volume of 27,151 shares. In the last 1 year, the stock has fallen 16.58% and on YTD basis, the stock has fallen 11.74% so far in 2022. On NSE, the stock had touched a 52-week high. 964.00 (19-Oct-2021) and 52-week low of At 676.70 (27-Jan-2022), it shows that at current market price the stock is trading at 21.69% below the high and 11.55% above the low. For the quarter ended September 2022, the company recorded promoter stake of 62.60%, FII of 0.14%, DII of 0.41% and public stake of 36.86%.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.