Wheels India gains on investing in European subsidiary
Wheels India is currently trading at Rs. 797.80, up by 3.35 points or 0.42% from its previous closing of Rs. 794.45 on the BSE.
The scrip opened at Rs. 804.45 and has touched a high and low of Rs. 804.45 and Rs. 791.00 respectively. So far 698 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 906.80 on 22-Aug-2024 and a 52 week low of Rs. 548.00 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 826.00 and Rs. 775.15 respectively. The current market cap of the company is Rs. 1953.30 crore.
The promoters holding in the company stood at 57.53%, while public held 42.47% stake in the company.
Wheels India has infused 50,000 euros into its newly formed entity and subsidiary WIL Europe GmbH. The subsidiary WIL Europe GmbH is in the process of formation and is yet to commence operations. It is being developed to expand and do business activities in Europe. The company would be engaged in automotive-non-automotive related activities and services, and also in supply chain management and other allied services. The capital infusion was through a cash consideration of 50,000 equity shares having a face value of Euro 1 each.
Wheels India engages in the design, manufacture, and sale of automobile wheels in India.
