Thursday, October 13, 2011

STEEL STRIPS WHEELS LTD:AVOID

Hi,
I have 170 no.s Steel strips Wheels (SSWL) @ 361 average. Can I average now at Rs245? What is your opinion about this stock?
Regards
Suresh
1. suresh ji , STEEL STRIPS WHEELS LTD is an auto parts company with 10 rupee face value . this script is belonged to indo next group and as you knew my view is negative for indo next stocks why? read this
http://sharegenius.blogspot.com/2011/04/vinati-organics-ltdavoid.html
2.promote holding in STEEL STRIPS WHEELS LTD is 51.20 % and FII holding is nil
3.this stock is a dividend paying stock and give 1.50-1.60 rupee peer year in last 5 year.
4.Steel Strips Wheels Ltd has informed BSE that the Company has achieved sales of 7.53 lacs Wheel Rims during the month of September, 2011 as against 8.80 lacs Wheel Rims during the month of September, 2010. The Company has also achieved a production of 7.53 lacs wheel rims during September, 2011 as against 8.66 lacs during September, 2010.


The Company have recorded a growth of 262% in the sale of Truck Wheel Rims by achieving sale of 47682 wheel rims in Sep. 2011 as against 13169 in September, 2010 and the Company have also recorded a growth of 50% in the sale of Tractor wheel rims by achieving sale of 78100 wheel rims in Sep,2011 as against 52174 in Sept, 2010.


The Company has achieved the Export Sales of 123020 wheel rims during the month of September, 2011 as against 77901 wheel rims during the month of September, 2010, recording a growth of 57.09%
5. i think you read point 4 and feel good , but why a company release such type of press note???.
6. year high of STEEL STRIPS WHEELS LTD is 474.40 and year low 206.35 book value of STEEL STRIPS WHEELS LTD is 86.31 so this is not a value investment.
7. you wonder but my view is AVOID for STEEL STRIPS WHEELS LTD stock.
8. i have no any stock of STEEL STRIPS WHEELS LTD .

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