Steel Strips Wheels has received nomination for Steel wheel business from a leading European OEM. The Business value is close to Euro 15 million which will be executed over a span of 6 years. Series supplies are expected to commence from end CY 2026. The Company expects more businesses from Global OEMs in coming months which complements its strategy to grow its presence in the EU and us OEM space. Powered by Capital Market - Live

The export order will be executed over a span of 6 years. The series of supplies is expected to commence at the end of CY2026. The company stated that it expects more businesses from global OEMs in the coming months, which complements its strategy to grow its presence in the EU and US OEM space. Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas. The company's consolidated net profit fell 11.8% to Rs 46.11 crore on a 3.4% decline in revenue from operations to Rs 1,095.10 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

The company's gross turnover fell marginally to Rs 455.05 crore in November 2024 from Rs 455.87 crore recorded in November 2023. In value terms, Tractor segment surged by 35% YoY, 2&3 Wheeler segment gained 39% YoY and Passenger Car'Alloy segment jumped 19% YoY. However, the Passenger Car- Steel segment declined 13% YoY, Truck segment dropped 14% YoY and Exports segment slipped 34% YoY in November 2024. In volume terms, Tractor segment soared by 33% YoY, 2&3 Wheeler segment surged 19% YoY and Passenger Car'Alloy segment rose 9% YoY. On the other hand, Passenger Car- Steel segment declined 7% YoY, Truck segment dropped 12% YoY and Exports segment slipped 34% YoY in during the review period. Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas. The company's consolidated net profit fell 11.8% to Rs 46.11 crore in Q2 FY25 as against Rs 52.30 crore posted in Q2 FY24. Revenue from operations decreased 3.4% YoY to Rs 1,095.10 in Q2 FY25. The scrip rose 0.44% to Rs 203.90 on the BSE. Powered by Capital Market - Live

The headline equity indices continued to trade with steep losses in mid-morning trade. The Nifty tanked below the crucial 23,900 level. Realty shares declined after advancing in the previous trading session. At 11:26 IST, the barometer index, the S&P BSE Sensex slumped 1,312.19 points or 1.63% to 78,411.33. The Nifty 50 index dropped 437.50 points or 1.80% to 23,866.85. In the broader market, the S&P BSE Mid-Cap index declined 1.48% and the S&P BSE Small-Cap index fell 1.97%. The market breadth was weak. On the BSE, 1,014 shares rose and 2,885 shares fell. A total of 135 shares were unchanged. Economy: The HSBC final Manufacturing Purchasing Managers' Index rose to 57.5 in October from an eight-month low of 56.5 in September. The flash reading was 57.4. A score above 50.0 indicates expansion. Finally, manufacturers became more optimistic regarding future output volumes. The level of positive sentiment was above the average seen over the 13-and-a-half-year series history. Meanwhile, India's forex reserves declined by $3.463 billion to $684.805 billion in the week ended October 25, according to the latest data from the RBI. For the week ended October 25, foreign currency assets, a major component of the reserves, decreased by $4.484 billion to $593.751 billion. Gold reserves increased by $1.082 billion to $68.527 billion during the week, the RBI said. Buzzing Index: The Nifty Realty index fell 2.89% to 979.90. The index rose 0.96% in the past trading session. Brigade Enterprises (down 4.77%), Mahindra Lifespace Developers (down 3.96%), DLF (down 3.3%), Prestige Estates Projects (down 3.16%), Phoenix Mills (down 2.96%), Godrej Properties (down 2.94%), Oberoi Realty (down 2.28%), Raymond (down 2.18%), Sobha (down 0.72%) and Macrotech Developers (down 0.59%) declined. Stocks in Spotlight: Steel Strips Wheels (SSWL) slipped 2.56% after the company achieved net turnover of Rs 370.05 crore in October 2024, down 6.48% from Rs 395.67 crore posted in October 2023. Ashok Leyland declined 1.94% after the company has reported total vehicle sales of 15,310 units for the month of October 2024, which is lower by 9% as compared with the sales of 16,864 units sold in October 2023. Global Markets: Most Asian stocks rose on Monday as investors looked for clues on fiscal stimulus from an upcoming meeting of China's top policymakers. However, gains were limited by pre-US election risk aversion and a regional trading holiday in Japan. Chinese stocks were upbeat as the National People's Congress Standing Committee began a four-day meeting. The body is expected to outline further fiscal spending measures. In the US, the S&P 500 closed higher on Friday as a significant miss on job gains in the October payrolls report solidified expectations of a Fed rate cut next week. A rally in Amazon also lifted consumer stocks. The S&P 500 gained 0.4% to 5,728.8 points, the NASDAQ Composite rose 0.8% to 18,239.92 points, and the Dow Jones Industrial Average increased 0.7% to 42,052.19 points. The US economy added only 12,000 jobs in October, far below the expected 106,000 and a sharp decline from the revised 223,000 in September. However, these figures were impacted by recent hurricanes and ongoing labor actions. The softer-than-expected payrolls data has intensified expectations of further interest rate cuts by the Federal Reserve. All eyes are on the Federal Reserve's meeting this week, where the central bank is widely anticipated to implement a 25-basis-point interest rate cut, following a 50-basis-point reduction in September. After the market closed on Thursday, tech giants Apple and Amazon released their quarterly results. Apple's stock fell more than 1% after the company's revenue outlook for the current quarter was projected in the low- to mid-single-digit range, potentially signaling caution ahead of the holiday shopping season. In contrast, Amazon's stock surged over 6% as the e-commerce giant reported an 11% year-over-year increase in overall quarterly revenue, benefiting from once-in-a-lifetime opportunities presented by generative AI. Powered by Capital Market - Live

The company's gross turnover fell 5.44% to Rs 455.24 crore in October 2024 from Rs 481.41 crore recorded in October 2023. In value terms, the Passenger Car'Alloy segment jumped 16% YoY and Tractor segment fell by 1% YoY. On the other hand, 2&3 Wheeler segment gained 30% YoY, Passenger Car- Steel segment declined 20% YoY, Truck segment dropped 18% YoY and Exports segment slipped 38% YoY in October 2024. In volume terms, the Passenger Car-Alloy segment increased 10% YoY and the Tractor segment fell 9% YoY. However, the 2&3 Wheeler segment jumped 31% YoY, the Passenger Car-Steel segment fell 15% YoY, the Truck segment slumped 16% YoY and Exports dropped 41% YoY during the review period. Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas. The company's consolidated net profit fell 13.9% to Rs 40.81 crore in Q1 FY25 as against Rs 47.41crore posted in Q1 FY24. Revenue from operations decreased 1.8% YoY to Rs 1,025.29 in Q1 FY25.Powered by Capital Market - Live

Net profit of Steel Strips Wheels declined 11.84% to Rs 46.11 crore in the quarter ended September 2024 as against Rs 52.30 crore during the previous quarter ended September 2023. Sales declined 3.41% to Rs 1095.10 crore in the quarter ended September 2024 as against Rs 1133.72 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1095.101133.72 -3 OPM %10.8910.96 - PBDT89.47101.26 -12 PBT61.9278.78 -21 NP46.1152.30 -12 Powered by Capital Market - Live

Steel Strips Wheels has appointed Ms. Kanika supta as Company Secretary and Compliance officer of the company in place of Sh. Shaman Jindal the President cum Company Secretary & Compliance Officer of the Company.Powered by Capital Market - Live

Steel Strips Wheels will hold a meeting of the Board of Directors of the Company on 29 October 2024.Powered by Capital Market - Live

The company's gross turnover fell by 9.35% to Rs 441.45 crore in September 2024 from Rs 486.99 crore in September 2023. In volume terms, the company recorded a de-growth of 8% in September 2024 over September 2023. Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas. The company's consolidated net profit fell 13.9% to Rs 40.81 crore in Q1 FY25 as against Rs 47.41crore posted in Q1 FY24. Revenue from operations decreased 1.8% YoY to Rs 1,025.29 in Q1 FY25. The scrip shed 0.19% to currently trade at Rs 214.10 on the BSE. Powered by Capital Market - Live

Steel Strips Wheels announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live