Wheels India zooms on planning Rs 100 crore capex for wind energy segment
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Wheels India is currently trading at Rs. 565.35, up by 52.70 points or 10.28% from its previous closing of Rs. 512.65 on the BSE.
The scrip opened at Rs. 522.00 and has touched a high and low of Rs. 570.75 and Rs. 518.00 respectively. So far 22806 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 600.00 on 05-Jun-2020 and a 52 week low of Rs. 370.00 on 22-May-2020.
Last one week high and low of the scrip stood at Rs. 570.75 and Rs. 468.20 respectively. The current market cap of the company is Rs. 1318.38 crore.
The promoters holding in the company stood at 57.53%, while Institutions and Non-Institutions held 23.14% and 19.34% respectively.
Wheels India has planned a capital expenditure of Rs 100 crore this year for the wind energy segment and would set up a plant in Thervoy Kandigai near Chennai. In addition, the company would look at investing a 'good portion' for the second phase of the cast aluminium plant. The company currently have built up capacity for 3.50 lakh wheels and it will be taking this upto 7.50 lakh wheels.
Wheels India engages in the design, manufacture, and sale of automobile wheels in India.
