Shares of Steel Strips Wheels settle with 3 pc gains on repeat export order

Shares of Steel Strips Wheels today settled with gains of over 3 per cent after the company said it has bagged a repeat order for supply of steel wheels for EU Caravan market.

In a regulatory filing, Steel Strips Wheels Ltd (SSWL) said it has bagged another export order for supply of steel wheels for EU Caravan market.

The order comprises of around 41,000 steel wheels to be shipped from SSWL's Chennai plant from next month onwards, it noted.

During the day, shares of the company opened at Rs 1,240, then jumped to 52-week high of Rs 1,269, up 3.89 per cent over its previous closing price. At the end of today's trade, the stock was quoted at Rs 1,261, up 3.24 per cent on BSE.

On the NSE, the stock opened at Rs 1,238, then touched 52-week high of Rs 1,269 and finally ended at Rs 1,265, up 3.79 per cent.

"The company is expected to close some more export orders with another European customer in recent future," the filing added.