Steel Strips Wheels (SSWL) rose 1.39% to Rs 439.10 after the company said it received new orders for over 229,000 euros from Europe.
SSWL said it received export orders of nearly 9,000 wheels for European trailer market. The orders are to be executed in October and November from the Chennai plant. Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed, SSWL said during market hours today, 29 September 2020.The scrip has risen 38.36% from its 52-week low of Rs 317.35 hit on 20 May 2020.
On a standalone basis, SSWL reported net loss of Rs 38.09 crore in Q1 June 2020 compared with net profit of Rs 14.72 crore in Q1 June 2019. Net sales slumped 74.4% to Rs 120.27 crore in Q1 June 2020 over Q1 June 2019.
SSWL is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.
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