Steel Strips Wheels (SSWL), a producer of automobile wheel rims, recorded an increase of 31.58% in wheels sales of 1 million during February 2014 as against 0.76 million in February 2013.

Passenger car segment grew 10% in Feb 2014 yoy and ''we expect this trend to continue going into new financial year,'' the company said.

Exports volume grew by 47% to 0.12 million in Feb 2014 vs. 0.08 million in Feb 2013. 2&3 wheeler segment volumes grew by 70% in Feb yoy, on the back of good volume growth across the customers and is poised to move with healthy rate.

Tractor segment grew by 17% yoy and will now gain momentum going into March-July period on the back of expected bumper harvest in India. LCV & MHCV segment grew 109% in February YoY.

Shares of the company gained Rs 4.35, or 3.49%, to trade at Rs 129. The total volume of shares traded was 4,251 at the BSE (11.30 a.m., Monday).