Steel Strips Wheels on a roll after winning export order

Steel Strips Wheels rose 2.72% to Rs 1,062.50 at 11:54 IST on BSE after the company announced bagging a repeat order of caravan wheels from Europe.

The announcement was made during trading hours today, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 82.05 points, or 0.24% to 33,753.69.

On the BSE, 391 shares were traded in the counter so far compared with average daily volumes of 1,408 shares in the past two weeks. The stock had hit a high of Rs 1,074 and a low of Rs 1,074.00 so far during the day. The stock hit a 52-week high of Rs 1,225 on 10 January 2018. The stock hit a 52-week low of Rs 709 on 20 March 2017.

Steel Strips Wheels (SSWL) announced bagging yet another big exports order for supplying steel wheels for European Union (EU) caravan market. Order comprises of approximately 100,000 steel wheels to be shipped from SSWL's Chennai plant from May 2018 onwards until period of 5 months. The company is on the verge of receiving similar export orders with another European customers in near future. This repeat order makes SSWL as a leading supplier of caravan Steel wheels market in European region.

Steel Strips Wheels' net profit rose 43.6% to Rs 18.12 crore on 19.4% rise in net sales to Rs 397.44 crore in Q3 December 2017 over Q3 December 2016.

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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