Steel Strips bags order worth 7,00,000 euro

The company has received an additional export order for 80,000 steel wheels for the EU Caravan trailer market. The company expects a record quarterly volume in Q2FY20.

The export value of this order is approximately 7,00,000 euro, the company said in a filing to the exchanges. This is 37 per cent increase on basis of cumulative orders for the year. The company's Dappar and Chennai car plant are expected to hit full capacities to fulfill demand from domestic as well as export clients.

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, the stock of Steel Strips Wheels closed at Rs. 786.40 per share, up by 0.37 per cent. The benchmark index S&P BSE Sensex was at 39,839.25, up by 22.77 points or 0.06 per cent.