SSWL climbs 3% after receiving new orders for over Rs6.5cr from US & Europe

The export orders of nearly 62,000 wheels will be executed in the month of January and February from its Chennai plant.

Nov 24, 2020 11:11 IST India Infoline News Service

Steel Strips Wheels
Steel Strips Wheels Limited (SSWL) on Tuesday has confirmed export orders of nearly 62,000 wheels for the United States and European market for over USD 878K (Rs6.5cr). The export orders will be executed in the month of January and February from its Chennai plant.

After receiving the order, Steel Strips Wheels Ltd stock was bullish in the Tuesday trade.At around 11.30 am, SSWL stock was selling at Rs500.45 per piece up by Rs14.95 or 3.08% from its previous closing of Rs485.50 per piece on the BSE.
The scrip opened at Rs491.70 and has touched a high and low of Rs506.50 and Rs491.70 respectively.

“Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed,” company informed the exchanges.

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