Shares of the Chandigarh-based wheel rim maker rose as much as 13 per cent to hit fresh 52-week high of Rs 947.80 after the company reported that it achieved ever monthly exports. SSWL has achieved net turnover of Rs 242.40 crore in June 2021 versus Rs 82.76 crore in June last year an increase of 192.61 per cent and achieved gross turnover of Rs 284.32 crore in June 2021 as against Rs 97.59 crore in June 2020.
Exports segment volume jumped 193 per cent year-on-year. The export segment achieved its highest ever sales by volume and sales in June 2021, and is expected to grow further, SSWL said in a stock exchange filing.
Passenger vehicle segment rose by 157 per cent annually and saw a growth with uptick in demand and we hope that the upward growth in segment will continue, SSWL added.
SSWL shares were witnessing uptick in trading volumes as 20,000 shares changed hands on the BSE compared with an average of 8,369 shares traded daily in the past two weeks.
As of 1:00 pm, SSWL shares traded 9 per cent higher at Rs 913, outperforming the Sensex which was trading in a flat note.