Steel Strips Wheels rises 7% on repeat export order
Shares of Steel Strips Wheels touched 52-week high of Rs 984.40, gaining 7 percent intraday Monday as it has won repeat export order.
The company has bagged another export order for its truck wheels in Chennai.
The total order includes 2500 truck wheels to be supplied in the next month from Chennai truck wheels plant.
The company is in advanced stage of discussions to finalise long term contracts with European customers and expects to close them by early next year.
The company has already marked its entry in the high potential truck and trailer steel wheels market in EU and aims to strengthen it in near future.
At 14:13 hrs Steel Strips Wheels was quoting at Rs 955.05, up Rs 33.00, or 3.58 percent on the BSE.
The stock gained 86.6 percent in the last 1 year.
Posted by Rakesh Patil