Steel Strips Wheels Limited informed the exchanges on Tuesday regarding a new order received by the company. The stock surged 4% following this news development.
The export order amounts to almost Rs5.8cr and has been received from the US and Europe market.
The company confirmed that the export orders of nearly 57,000 wheels will be executed in the month of December.
The order will be fulfilled from its Chennai plant.
Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed, said the company.
Steel Strips Wheels Ltd is currently trading at Rs506.70 up by Rs28.45 or 5.95% from its previous closing of Rs478.25 on the BSE.
The scrip opened at Rs473.55 and touched the day's high and low of Rs487.35 and Rs473.55 respectively.
Related Tags: