Steel Strips Wheels books 100% capacity utilisation
Shital Jibhe / 06 Feb 2017
Indian automotive components manufacturer-Steel Strips Wheels Limited (SSWL) announced that the company will start mass-production at its newly-launched hot steel rolling mill at Saraikela in Jharkhand.
Indian automotive components manufacturer-Steel Strips Wheels Limited (SSWL) announced that the company will start mass-production at its newly-launched hot steel rolling mill at Saraikela in Jharkhand. The production was expected to start from February 1, 2017 and the firm has booked complete capacity utilisation for the purpose.
The factory having an annual capacity of rolling 50,000 MT, has entered into a strategic tie-up to roll 18,000 MT steel bars with the company in the same region. The company has set up a partnership for 1,500 MT every month for an initial period of 3 years.
The rolling mill has been set up at an approximate cost of Rs 60 crore. The mill is 40 km away from Steel Strips Wheels' existing commercial wheel manufacturing facility and will be a backward integration of the plant.
The stock has given 103.94 per cent returns in a period of one year and outperformed the BSE small-cap and BSE Auto index.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.