Steel Strips Wheels bags export order but share price at 52-week low

Steel Strips Wheels share price slipped to 52-week low of Rs 326, down 6 percent, intraday on May 19 even though the company received orders worth 285,000 euros from Europe.

The company has bagged export orders for more than 50,000 wheels for EU Caravan Trailer Market.

The orders are to be executed in July and August from its Chennai plant.

These orders mark the beginning of restart of operations in the EU post- COVID-19 lockdown.

More orders are expected in the coming weeks from other regular customers, the company said in a release.

At 1458 hours, Steel Strips Wheels was quoting at Rs 327.10, down Rs 20.10, or 5.79 percent, on the BSE.