Steel Strips stock up over 3% on export order from JLR

Shares of Steel Strips Wheels rose by over 3 per cent today as the company secured an order from Tata Motors-owned Jaguar Land Rover (JLR).
The stock gained 3.34 per cent to end at Rs 389.80 on BSE. During the day, it climbed 6.83 per cent to Rs 403 -- its 52-week high.
At NSE, shares of the manufacturer of automotive steel wheels settled at Rs 388.35, up 3 per cent from its previous close.
This is one of Steel Strips Wheels Ltd's (SSWL) biggest export orders, the company said in a regulatory filing today.
As part of the deal, SSWL will supply its products to JLR's UK plant and one more European facility, it added.

The company, however, did not disclose financial details.
The wheels will be supplied from SSWL's Chennai plant, with the first supplies scheduled to start from February 2016.
SSWL designs and manufactures automotive steel wheels since 1991 and is among the leading suppliers to Indian and global automobile manufacturers.