Steel Strips gains on order from PSA Peugeot Citroen

The order is for approximately 1.72 million wheels spread over 5 years generating 15 million euros

Shares of Steel Strips Wheels were up nearly 3% at Rs 342 on the Bombay Stock Exchange after the company announced that it has bagged a prestigious export order from PSA Peugeot Citroen.

This order is one of the biggest export order in its history and the total project volume would be approximately 1.72 million wheels spread over 5 years generating cumulative revenue of about 15 million euros, the company said in a release.

The stock opened at Rs 338 and touched a high of Rs 350. At 1:30pm, over 37,500 shares were traded on both the stock exchanges.