Steel Strips bags EU caravan order, stock up 3 per cent

The share price of Steel Strips Wheels surged by over 3 per cent in the intraday trade on Friday as the company won export orders for supply of steel wheels for EU Caravan market. 
  
The order comprises of export of nearly 1,30,000 steel wheels from the company’s Chennai plant from May 2018 to upto 6 months. The company has become a leading supplier of caravan steel wheels in the European region. 
  
The company posted its highest ever monthly revenue to Rs. 193.69 crore, up by 57 per cent in February 2018 on a year-on-year basis. The company’s net turnover also grew by 39 per cent during the corresponding period.      
  
In Friday’s trade session, Steel Strips Wheels hit an intraday high of Rs. 1,074.20 per share and an intraday low of Rs. 1052 per share on BSE, respectively. The stock had hit its 52-week high of Rs. 1,225 per share on January 10, 2018 and its 52-week low of Rs. 709 per share on March 20, 2017 on BSE, respectively. 
  
At 14:59 hours IST, the stock was trading at Rs. 1,066 per share, higher by 2.38 per cent on BSE on Friday. Meanwhile, S&P BSE Sensex was trading at 33,213.94 level, lower by 1.39 per cent and NSE Nifty50 was trading at 10,211 level, lower by 1.44 per cent.