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Steel Strips Wheels shares rise on 250k euro export order


Date: 28-08-2020
Subject: Steel Strips Wheels shares rise on 250k euro export order
Steel Strips Wheels share price gained over 2 percent intraday on August 28 after the company bagged export orders of nearly 37,000 wheels for EU caravan trailer market amounting to 2,53,000 euro.

The company secured export orders of nearly 37,000 wheels for EU caravan trailer be executed in the month of November and December from its Chennai plant. Orders 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 over 46 percent in the last 3 months and was trading at Rs 488.00, up Rs 12.65, or 2.66 percent. It has touched an intraday high of Rs 495.00 and an intraday low of Rs 480.

The company on August 27 also informed about bagging firm export orders for around 12,000 wheels for US and EU caravan Trairer Market to be executed in the month of 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.

Source:-moneycontrol.com







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