Steel Strips Wheels (SSWL) has bagged a major order from Western Hemisphere on Monday. The company signed an MoU for a consideration of $105M (Rs800cr).
In its regulatory filing today, SSWL said that it has "signed an MoU tor close to $105M from Western Hemisphere which would cover supply of Steel and Aluminum wheels for a minimum period of 3 years."
SSWL highlighted that the supplies of steel wheels will begin from Chennai and Dappar Plant by September 2021 and supplies from Mehsana plant for the Aluminum wheels will begin by end of Dec 2021.
"This shows strong confidence of the customers in SSWL to develop long term strategic partnerships," SSWL added.
At around 1.54 pm, SSWL was trading at Rs1701 per piece down by 0.4% on Sensex. The stock has touched an intraday high and low of Rs1747.95 per piece and Rs1622 per piece respectively.