/ Ways2Capital : Steel Strips Wheels Books 100% Capacity At Its New Hot Rolling Mill ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 6 February 2017

Steel Strips Wheels Limited (SSWL), announced that the company will start mass production at its newly launched Hot Steel Rolling Mill at Saraikela, Jharkhand. The production has started from February 1, 2017 and has booked complete capacity utilisation.

The factory having a annual capacity of rolling 50000 MT, has entered into a strategic tie up to roll upto 18000 MT steel bars/ flats with a Company operating in the same region. The partnership is for 1500 MT every month for an initial period of 3 years. 

The rolling mill has been set up at an approximate cost of Rs 60 crore. The stock has outperformed the BSE Small-cap index and the BSE Auto index over a period of one year, giving 103.94% returns in a period of one year. Steel Strips Wheels Ltd is currently trading at Rs 693.1, down by Rs 2.2 or 0.32% from its previous closing of Rs 695.3 on the BSE.

The scrip opened at Rs 690.85 and has touched a high and low of Rs 704.5 and Rs 690.85 respectively. So far 19382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1080.05 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 704.75 and Rs 671.3 respectively.

The promoters holding in the company stood at 58.77 % while Institutions and Non-Institutions held 0.43 % and 40.8 % respectively. The stock is currently trading above its 50 DMA.

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