 "Steel Strips Wheels surges on winning export order")
Steel Strips Wheels (SSWL) has surged 10% to Rs 437 on the National Stock Exchange (NSE) after the company announced that it has bagged an export order from Siam Kubota Corp Ltd (SKC) for their new project. The order is for supplying tractor wheel for their Thailand production facility.
“It will be an existing wheel supplied from our Dappar plant which will be carried over for a new Tractor model of Kubota. Mass supplies are expected from Mar 2016,” SSWL said in a statement.
The total expected volume from this program over a period of five years is 220,000 tractor wheels. The order value of the program will be USD 13.5 million, it added.
The stock hit a 52-week high of Rs 449 on the NSE in early morning trade. A combined 567,977 shares changed hands on the counter on the NSE and BSE till 02:34 p.m.
“It will be an existing wheel supplied from our Dappar plant which will be carried over for a new Tractor model of Kubota. Mass supplies are expected from Mar 2016,” SSWL said in a statement.
The total expected volume from this program over a period of five years is 220,000 tractor wheels. The order value of the program will be USD 13.5 million, it added.
The stock hit a 52-week high of Rs 449 on the NSE in early morning trade. A combined 567,977 shares changed hands on the counter on the NSE and BSE till 02:34 p.m.
