SSWL rolls ahead after winning fresh exports order

Steel Strips Wheels rose 1.3% to Rs 1,031.35 at 10:58 IST on BSE after the company said that it has bagged another fresh exports order for its new truck wheels plant in Chennai.

The announcement was made during market hours today, 28 February 2018.

Meanwhile, the S&P BSE Sensex was down 175.78 points or 0.51% at 34,170.61. The S&P BSE Small-Cap index was down 24.96 points, or 0.14%, to 18,065.17, outperforming the Sensex.

On the BSE, 353 shares were traded on the counter so far as against the average daily volumes of 2,423 shares in the past two weeks. The stock had hit a high of Rs 1,035 and a low of Rs 1,015 so far during the day. The stock had hit a record high of Rs 1,225 on 10 January 2018. The stock had hit a 52-week low of Rs 685 on 8 March 2017.

Steel Strips Wheels said that the total order size is close to 2,000 truck wheels to be supplied in next 2 months. The company has already marked its entry in the high potential truck and trailer steel wheels market in the European Union. The company expects to increase its presence in truck & trailer in the coming months given the world class manufacturing facility at its Chennai plant.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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