SSWL gains 1%; bags order from BMW and Caravan industry

India Infoline News Service | Mumbai | November 25, 2016 16:28 IST

The company said that it bagged an export order for supplying Caravan Steel wheels for trailer market.

Steel Strips Wheels
Steel Strips Wheels Ltd is currently trading at Rs 517.4, up by Rs 5.6 or 1.09% from its previous closing of Rs 511.8 on the BSE. The company said that it bagged an export order for supplying Caravan Steel wheels for trailer market.

Total order is for supplying approx 20000 wheels. Orders will be executed from SSWL's Chennai plant with shipments starting from December 2016. This is a repeat order from the export customer hinting that the company's efforts are helping to attain more footprints in EU markets.

The company has also bagged an order to supply wheels to BMW India. The total order size is 18,000 wheels and the order will start for mass supplies from March 201'7 from our Chennai Facility.

The scrip opened at Rs 515 and has touched a high and low of Rs 546.25 and Rs 511 respectively. So far 69278 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 795.01 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 775 on 14-Oct-2016 and a 52 week low of Rs 284 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 535 and Rs 481.1 respectively.

The promoters holding in the company stood at 58.77 % while Institutions and Non-Institutions held 0.98 % and 40.25 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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