Steel Strips Wheels Ltd's tractor segment production running at 90% capacity
In line with production resumption at various plant of Steel Strips Wheels Ltd (SSWL), the company has said that the tractor segment is now running at 90% capacity with seasonal demand coming to help the segment. The company expects this to continue going ahead with it reaching 90% plus capacity utilization.
The export segment will report strong numbers in June and are expected to reach high single digit YoY volume growth. The MoM increase in orders stands at 60%. The company will have exports at 2.5 Mn volume annual pace and expects to reach the 3.0 Mn annual pace with new orders increasing from US and EU. This run rate is equal to pre-Covid levels and the company expects this to continue going ahead. The MoM increase in orders stands at 60%.
The Mehsana plant of the company is expected to run at 50% capacity utilization in June with firm orders from Domestic car makers and this plant will be the first one to reach 70% plus utilization in coming months.
Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.330 as compared to the previous close of Rs. 331.2. The total number of shares traded during the day was 428 in over 65 trades.
The stock hit an intraday high of Rs. 339.3 and intraday low of 326. The net turnover during the day was Rs. 141098.