Steel Strips Wheels (SSWL), a producer of automobile wheel rims, witnessed a rise in share price on Wednesday after the company reported a sharp rise in standalone net profit for the quarter ended September 2014.  During the quarter, the profit of the company rose 60.77% to Rs 117.20 million from Rs 72.90 million in the same quarter previous year.

Net sales for the quarter rose 18.86% to Rs 3,157.80 million, compared with Rs 2,657 million for the prior year period.

Shares of the company are trading at Rs 312.75, up Rs 8.4, or 2.76% at the Bombay Stock Exchange (BSE) on Wednesday at 12:42 p.m.

The scrip has touched an intra-day high of Rs 320.80 and low of Rs 301.50. The total volume of shares traded at the BSE is 27,963.