Wheels India at a new high

Wheels India hit a record high today morning at Rs.2654, surging up 6.5%. Volumes too jumped up from two-week average of less than 650 shares to 14,000 shares changing hands in the one hour since opening bell.

The market is thrilled that the Board of Wheels India is meeting on 22nd June to consider issue of bonus shares.

This is a TVS group company and is India's largest auto component manufacturer of wheels for commercial vehicles.

The company had ended Q4FY18 with a 13% (YoY) rise in net profit at Rs.19.50 crore on a 26% decline in net sales at Rs.700 crore.