Shares of Steel Strip Wheels fell sharply today
Advertisement
Advertisement
Steel Strip Wheels Ltd., a maker of rims for automobiles, fell sharply on Tuesday after the company reported a modest fall in unit sales for the month of August, primarily on lower exports.Steel Strips said it sold 11.14 lakh units last month compared with 11.59 lakh units in the same month last year as exports fell 14 percent. However,
The stock fell 14.60 rupees, or 4.4 percent, to 321.25 rupees on the National Stock Exchange where 6,900 shares were traded compared with 12,100 shares as its 5-day average.
Steel Strips' market capitalisation has jumped 14 percent to 490 crore rupees in the past one year. The stock trades at 1.4 times its book value of 235 rupees.
Image credit: Indiatimes
Advertisement
Advertisement
- Fresh photographs of Milky Way’s black hole Sgr A* reveal strong, twisted magnetic field similar to M87*
- 8 Lesser-known places to explore in Himachal Pradesh
- Markets end FY24 on buoyant note amid positive global cues
- SRM Contractors IPO allotment – How to check allotment, GMP, listing date and more
- Rupee falls 6 paise to settle at 83.39 against US dollar