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Steel Stripes Wheels Limited (SSWL) has surged 7% to Rs 324 on the BSE after the company announced that it has bagged an order from the Canadian passenger car aftermarket for the supply of wheels.
“This order volumes are expected to go up to 40,000 wheels next year with total value of around $1 million per annum, the company said. The program will run for 5 years and result in volumes of 175,000 and revenue addition of $4.5 million, SSWL said.
This would mark the entry of SSWL wheels in North America. Wheels would be shipped by the end of Jun 2015, the company added.
The company has said that it is also in advance stages of bagging an order from Polish aftermarket party for passenger car wheels. This compliments SSWL's strategy to increase its presence in the global aftermarket requirements, it added.
“This order volumes are expected to go up to 40,000 wheels next year with total value of around $1 million per annum, the company said. The program will run for 5 years and result in volumes of 175,000 and revenue addition of $4.5 million, SSWL said.
This would mark the entry of SSWL wheels in North America. Wheels would be shipped by the end of Jun 2015, the company added.
The company has said that it is also in advance stages of bagging an order from Polish aftermarket party for passenger car wheels. This compliments SSWL's strategy to increase its presence in the global aftermarket requirements, it added.
The stock opened at Rs 306 and touched high of Rs 333 on the NSE. Till 1051 hours, a combined 91,032 shares changed hands on the counter on the NSE and BSE.
