Steel Strips Revs Up On Export Order Equity Industry - Dec 11, 2008

The company announced the order win during trading hours today, 11 December 2008.Meanwhile, the BSE Sensex was down 4.61 points, or 0.05%, to 9,650.29.On BSE, 3,903 shares were traded in the counter. The stock had an average daily volume of 464 shares in the past one quarter.The stock hit a high of Rs 53.95 and a low of Rs 50 so far during the day. The stock hit a 52-week high of Rs 256.25 on 2 January 2008 and a 52-week low of Rs 50 on 4 December 2008.

The small-cap stock had underperformed the market over the past one month till 10 December 2008, declining 32.83% as compared to the Sensex's decline of 8.36%. It had outperformed the market in the past one quarter, declining 56.03% as compared to the Sensex's decline of 34.15%.The company's current equity is Rs 12.56 crore. Face value per share is Rs 10.The current price of Rs 52.65 discounts the company's Q2 September 2008 annualized EPS of Rs 10.19, by a PE multiple of 5.17.

Steel Strips Wheels has bagged an export order from Italy's Piaggio for supply of 46,000 wheel rims.Steel Strips Wheels' net profit fell 19.8% to Rs 3.20 crore on 45.5% increase in net sales to Rs 95.98 crore in Q2 September 2008 over Q2 September 2007.The company is engaged in manufacturing wheel rims. The company caters largely to the two-wheeler industry.