Steel Strips Wheels rose 4.68% to Rs 910 at 14:45 IST on BSE after the company bagged order of alloy wheel from India OEM valued at Rs 480 crore.
The announcement was made during market hours today, 5 March 2019.Meanwhile, the S&P BSE Sensex was up 350.44 points or 0.97% at 36,414.25
On the BSE, 4449 shares were traded on the counter so far as against the average daily volumes of 4530 shares in the past two weeks. The stock had hit a high of Rs 929.65 and a low of Rs 876 so far during the day.
Steel Strips Wheels (SSWL) announced bagging of long term domestic order for supply of alloy wheels for an Indian OEM from its Mehsana alloy wheel plant. Order comprises of 1.8 million alloy wheels distributed over the vehicle program life to be shipped from SSWL's Mehsana plant from 2019 onwards. The program life is 5 years starting 2019. Total order value of the program life is Rs 480 crore. SSWL is developing more than 15 wheels for domestic as well as export customers which will see the mass production in FY 19-20.
Steel Strips Wheels' net profit rose 8.33% to Rs 19.63 crore on 21.87% rise in total income to Rs 486.16 crore in Q3 December 2018 over Q3 December 2017.
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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