Steel Strips Wheels shares gain 5% on orders from the US & EU market

Steel Strips Wheels share price gained 5 percent intraday on October 13 after the company bagged orders of over USD 3,68,000 from the US and the EU.

The company confirmed export orders of nearly 38,000 wheels for US and EU market, to be executed in the month of December and January from its Dappar & Chennai plants. 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 was trading at Rs 489, up Rs 17.80, or 3.78 percent at 10:40 hours. It has touched an intraday high of Rs 495.35 and an intraday low of Rs 477.

Earlier last month the company confirmed export orders of nearly 9,000 wheels for EU trailer market, to be executed in the month of October and November from its Chennai plant.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has decreasing promoter pledge with book value per share improving for last 2 years.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.