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Steel Strip Wheels share price rises 4% on export orders


Date: 15-07-2020
Subject: Steel Strip Wheels share price rises 4% on export orders
Steel Strip Wheels share price rose 4 percent intraday on July 15 after the company received export orders.

The company has received new orders for Mobile Home market from the US.

The order comprises of almost 8,200 steel wheels to be executed in the month of August from its Chennai plant.

The revenue thus generated would be a total of $71,000.

Similar orders are expected in times to come from other regular customers as the market regains normalcy. This will support further ramping up of production at Chennai steel wheels plant, the company said.

On July 14, the company has bagged firm export orders for over 29,000 wheels for EU Caravan Trailer Market to be executed in August from its Chennai plant.

At 11:42 hrs Steel Strips Wheels was quoting at Rs 446.10, up Rs 10.90, or 2.50 percent on the BSE.

Source:- moneycontrol.com

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