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SSWL moves up on bagging export orders for Truck & caravan Trailer Market from USA

  • Jun-30-2020
  • 10:37:00 Hrs IST

Steel Strips Wheels is currently trading at Rs. 439.00, up by 19.50 points or 4.65% from its previous closing of Rs. 419.50 on the BSE.

The scrip opened at Rs. 428.75 and has touched a high and low of Rs. 443.00 and Rs. 420.90 respectively. So far 2596 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 821.80 on 08-Jul-2019 and a 52 week low of Rs. 317.35 on 20-May-2020.

Last one week high and low of the scrip stood at Rs. 453.95 and Rs. 417.95 respectively. The current market cap of the company is Rs. 657.50 crore.

The promoters holding in the company stood at 62.85%, while Institutions and Non-Institutions held 1.02% and 36.14% respectively.

Steel Strips Wheels (SSWL) has bagged fresh Export orders for Truck & caravan Trailer Market from USA. Order comprises supplies of close to 14,000 steel wheels to be executed in the month of July & August from its Chennai plant. Total revenue generated by this additional order would be over $315K.

Repetitive orders are expected in coming weeks from several other regular customers as the market begins its recovery. This will support further ramping up of production at Chennai steel wheels plant.

SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.