Steel Strips bags order for 3 lakh wheels

The company has received an export order for 3,00,000 steel wheels for the EU Caravan market. The order will be shipped from the Steel Strips' Chennai plant.

The export orders consists of over 3,00,000 steel wheels, of 13-inch and 14-inch size. The total value of the order is 2 million euro. The shipment is to be done in a period of six months. The company expects additional orders from other EU customers in the near term.

Steel Strips Wheels Limited (SSWL) is auto-ancillary company manufacturing automotive steel wheels for passenger cars, multi-utility vehicles, tractors, trucks, OTRs and for two and three-wheelers. SSWL is making its mark as a strong and leading player in the European Caravan wheels market. The company expects further orders from its EU clients in the near terms, said the company in a filing to the exchanges.

Meanwhile, on Wednesday, at 11:11 hours, the stock of Steel Strips Wheels was trading at Rs. 957.15 per share, up by 0.50 per cent. The stock has seen a trend reversal after 4 days of consecutive fall. The benchmark index S&P BSE Sensex was at 33,705.12, down by 127.95 points or 0.38 per cent.