Steel Strips Wheels (SSWL) jumped 5.13% to Rs 441 after the company bagged export orders for truck & caravan trailer market from USA.
The company said that the order comprises supplies of close to 14,000 steel wheels to be executed in the month of July & August from its chennai plant. Total revenue generated by this additional order would be over $315,000.
"Repetitive orders are expected in coming weeks from several other regular customers as the market begins its recovery", it added.
In a separate announcement made during market hours today (30 June), SSWL said that its board has approved the induction of a strategic/ financial investor in order to bring down long term debt and sharpen the firms leadership position in its various product lines.
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.
The company's standalone net profit slumped 68% to Rs 6.29 crore on a 28.8% decline in net sales to Rs 343.60 crore in Q3 December 2019 over Q3 December 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app