SSWL Wins Biggest Truck Steel Wheels Order From USA
Steel Strips Wheels Ltd (SSWL) has bagged their largest Exports order for Truck & Trailer Aftermarket from USA. Order comprises supplies of 110,000 truck steel Wheels in 5 months from its Chennai plant from next month onwards. Total revenue generated by this additional order would be close to USD 5 mln in 5 months which is also expected to be repeated.
This big order will mark SSWL's arrival in the high potential NA Truck steel wheels market. SSWL is in discussions with other large truck & trailer makers in USA and expects to close similar big contracts in this segment in near future.
SSWL expects to significantly increase its presence in high potential Truck & Trailer wheels market in US & EU in the coming months and it's capacity enhancement at Chennai plant, which is in progress, will support this strategy.
Shares of STEEL STRIPS WHEELS LTD.-$ was last trading in BSE at Rs.1285 as compared to the previous close of Rs. 1201.85. The total number of shares traded during the day was 749 in over 212 trades.
The stock hit an intraday high of Rs. 1285 and intraday low of 1213. The net turnover during the day was Rs. 934764.