The company has confirmed export orders of nearly 139,000 wheels for US caravan trailer market worth USD 1.17 million, to be executed in the period of 4 months, starting November 2020 from its Chennai plant.
Steel Strips Wheels share price jumped over 3 percent intraday on September 2 after the company received new orders from the US market.
SSWL confirmed export orders of nearly 139,000 wheels for US caravan trailer market worth USD 1.17 million, to be executed in the period of 4 months, starting November 2020 from its Chennai plant. Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed, the company said in an exchange filing.
The stock price has gained 19 percent in the last 1 month and was trading at Rs 478.00, up Rs 15.70, or 3.40 percent. It has touched an intraday high of Rs 499.90 and an intraday low of Rs 469.70.
The auto component maker also said it has received orders worth over USD 455,000 (about Rs 3.32 crore) for about 42,000 wheels for the US and EU trailer market.
In a regulatory filing, Steel Strips Wheels Ltd said it has received new export orders worth over USD 455,000 from the US and European Union (EU) trailer market to be executed in September and October from its Chennai plant.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has been efficient in managing assets to generate profits - ROA improving since last 2 years
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.
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