Steel Strips stock up nearly 3% on bagging Canadian order

Stock of Steel Strips Wheels (SSWL) rose by nearly 3 per cent today after the company announced to have bagged an order worth USD 4.5 million (around Rs 29 crore) to supply 1.75 lakh wheels to Canada's passenger car aftermarket.
The stock ended 2.25 per cent higher at Rs 308.80 on the BSE. During the day, it went up by 10.92 per cent to Rs 335.
On the NSE, it settled at Rs 309.30, up 2.84 per cent from its previous close.
Wheels will be shipped by the end of June 2015, Steel Strips Wheels (SSWL) said in a filing to BSE.

"This order volumes are expected to go up to 40,000 wheels next year with a total value of around USD 1 million per annum. The programme will run for five years, potentially resulting in volumes of 1.75 lakh and revenue addition of 4.5 million dollar," it added.
Besides, the company said it's in advance stage of securing an order from Polish aftermarket for passenger car wheels.