Steel Strips Wheels share surges 3% on getting order from US
Wheels will be dispatched from the company's Chennai facility
Steel Strips Wheels Ltd (SSWL), manufacturer of steel wheel rims, bagged an export order for supplying truck and trailer steel wheels to the US aftermarket.
Wheels will be dispatched from the company's Chennai facility from January 2018 itself. The total potential of this business is 45,000 wheels and order value will be close to $2 million, according to an India Infoline report.
SSWL is into design, manufacturing and marketing of Steel Wheel Rims for passenger cars, utility vehicles, 2/ 3 wheelers, tractors, light/ heavy commercial vehicles. It has a capacity of nearly 17 million wheels per annum.
SSWL has seen a flurry of orders over the past few weeks. On December 19, 2017, the company received an order for 30,000 wheels from Europe, while on December 18, 2017, it bagged an order for 24,500 wheels to be shipped to the EU Caravan market, the report said.
On December 22, 2017, the company bagged order for supplying steel wheels for Egyptian passenger vehicles.
Steel Strips Wheels is currently trading at Rs 1,195, 3% up from its previous closing of Rs1,165 on the BSE.
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