Steel Strips Wheels rose 2.21% to Rs 1,064.30 at 14:08 IST on BSE after the company said it bagged an order of 130,000 caravan wheels from Europe.
The announcement was made during trading hours today, 16 March 2018.Meanwhile, the S&P BSE Sensex was down 364.40 points, or 1.08% to 33,321.14.
On the BSE, 637 shares were traded in the counter so far compared with average daily volumes of 1,393 shares in the past two weeks. The stock had hit a high of Rs 1,074.20 and a low of Rs 1,052 so far during the day. The stock hit a record high of Rs 1,225 on 10 January 2018. The stock hit a 52-week low of Rs 709 on 20 March 2017.
Steel Strips Wheels (SSWL) announced bagging an exports order for supplying steel wheels for European Union (EU) Caravan market. Order comprises of approximately 130,000 steel wheels to be shipped from SSWL's Chennai plant from May 2018 onwards until period of 6 months. The company is expected to close some more export orders with another European customers in recent future. This repeat order makes SSWL as a leading supplier of caravan Steel wheels market in European region.
Shares of SSWL rose 0.66% to settle at Rs 1,041.25 yesterday, 15 March 2018, after the company announced bagging an exports order for supplying steel wheels for EU caravan market. Order comprised of approximately 100,000 steel wheels to be shipped from SSWL's Chennai plant from May 2018 onwards until period of 5 months.
Steel Strips Wheels' net profit rose 43.6% to Rs 18.12 crore on 19.4% rise in net sales to Rs 397.44 crore in Q3 December 2017 over Q3 December 2016.
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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