Steel Strips Wheels shares jump nearly 20% after strong September-quarter profit
Shares of Steel Strips Wheels rose nearly 20% on Friday to a 52-week high after net profit more than tripled, TradingView reported on 23 October.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
Shares of India's Steel Strips Wheels climbed nearly 20% on Friday, 23 October, reaching a 52-week high of ₹467.70. The company posted a sharp rise in its September-quarter results for financial year 2026-27, with net profit more than tripling to ₹117 crore from ₹35.5 crore a year earlier. Revenue from operations grew 60.8% to ₹1,930 crore, while EBITDA rose to ₹236 crore and its margin widened to 12.2% from 9.3%.
The board declared an interim dividend of ₹1.50 per equity share of ₹1 face value, with November 21, 2026 set as the record date. It also approved a greenfield plant at Chhatrapati Sambhajinagar in Maharashtra, with an estimated cost of ₹1,400 crore and annual capacity of 60 million units, subject to approvals. A lease agreement with AMW Autocomponent Limited was renewed for up to five years from November 26, 2026. Information is according to TradingView.
why it matters
The rally stands out in a weak market where midcap and smallcap indices fell 3% to 4%, suggesting investors are rewarding companies with strong earnings. The stock has already gained 116% so far in 2026, so its next moves will depend on whether margins hold and the new plant project progresses.
market impact
Steel Strips Wheels and Indian auto components: strong results support investor interest in the stock
tags
instruments
sources
- One stock is bucking the trend in a weak market with a 20% jump after its Q2 results — TradingView, 23 October 2026 at 07:59 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗