Steel Strips Wheels rose 3.33% to Rs 1,024.30 at 14:01 IST on BSE after the company said it received 30,000 truck wheels order valued at 1.2 million euros.
The announcement was made during trading hours today, 19 December 2017.Meanwhile, the S&P BSE Sensex was up up 130.71 points, or 0.39% to 33,732.39.
On the BSE, 3,520 shares were traded in the counter so far, compared with average daily volumes of 3,006 shares in the past one quarter. The stock had hit a high of Rs 1,041 and a low of Rs 995.15 so far during the day. The stock hit a record high of Rs 1,100.95 on 1 December 2017. The stock hit a 52-week low of Rs 548 on 26 December 2016.
Steel Strips Wheels (SSWL) said that it has bagged a repeat exports order from Europe. Total order size is 30,000 wheels, which is to be dispatched from the company's new truck wheels plant in Chennai from next month onwards. Order size is valued close to 1.2 million euros.
SSWL said it is in touch with other large trailer makers in European territory and expects to get more orders in this segment in near future. SSWL expects to increase its presence in truck and trailer wheels market in European Union (EU) and US in the coming months.
SSWL announced during trading hours yesterday, 18 December 2017, that it bagging a new exports order for supplying steel wheels to European Union (EU) caravan market. Order volume of 24,500 wheels comprises mix of 13-inch and 14-inch steel wheels to be shipped from SSWL's Chennai plant in January and February 2018. This repeat order strengthens SSWL's position as a leading supplier of caravan steel wheels in European region, the company said in a statement. The stock fell 0.13% to settle at Rs 991.25 yesterday, 18 December 2017.
Net profit of Steel Strips Wheels rose 14.5% to Rs 18.17 crore on 29.6% rise in net sales to Rs 377.93 crore in Q2 September 2017 over Q2 September 2016.
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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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