Steel Strips Wheels wins order worth Rs.69 crore

Steel Strips Wheels (SSWL) has received an export order worth Rs. 69 crore for market in the Western Hemisphere. The stock is trading with a positive bias in BSE on Friday.

The said orders would be executed over a period of 1 year with supplies beginning in the month of October from Chennai plant. This additional business will ensure continuation of 100 percent utilization of its Chennai plant.

SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.

The shares of SSWL on Friday opened at Rs. 783.95 as against Thursday’s close of Rs. 776.55. The stock hit an intraday high of Rs. 783.95 and intraday low was Rs. 783.95. Its 52-week high was Rs. 1,153.45 and 52-week low was Rs. 724.00 per share on the BSE. At 10:15 hours, the stock was trading at Rs. 783.95, up by 0.95 per cent from previous close.