Last Updated :
17 March 2010 at 13:15 IST
Steel Strips Wheels to supply steel rims to Renault
MUMBAI (Commodity Online): Automotive wheel rims maker, Steel Strips Wheels Ltd (BOM:513262) jumped on the Bombay Stock Exchange (BSE) after the company announced that the company had secured an export order for supply of steel wheel rims.
In a filing with the BSE today, the company stated that French car maker, Renault has appointed the company to source their requirement of steel wheel rims for their project in Europe. The company expects to supply three lakh steel wheel rims in five years for the project.
Steel Strips stocks gained over 7% to Rs.117 and traded at Rs.110.85 in the afternoon trading session on the BSE today. The stock had outperformed the market in the past one quarter, rising 9.02% as compared to the Sensex's return of 2.78%.
SSWL reported net profit of Rs.2.37 crore in Q3 December 2009 compared to net loss of Rs.2.86 crore in Q3 December 2008. Net sales surged 94.1% to Rs.115.64 crore in Q3 December 2009 over Q3 December 2008.
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