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Jan 10, 2018 11:58 AM IST | Source: Moneycontrol.com

Steel Strips Wheels rises 2% on maiden truck wheels order from USA

The company has bagged a maiden exports order from high potential US Truck & Trailer Aftermarket for its Truck Steel wheels plant in Chennai.

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Share price of Steel Strips Wheels (SSWL) advanced 2.5 percent intraday Wednesday as the company has bagged maiden truck wheels order from USA.

The company has bagged a maiden exports order from high potential US Truck & Trailer Aftermarket for its Truck Steel wheels plant in Chennai.

The total annual potential of this business is 45,000 wheels.

The said wheels to be dispatched from its new truck wheels plant in Chennai from this month onwards. The total order value would be close to USD 2 million.

This order marks company's entry into US territory. The company is in discussions with other large truck & trailer makers in USA and expects to get more orders in this segment in near future.

The company expect to increase its presence in truck and trailer wheels market in US and EU in the coming months.

At 11:19 hrs Steel Strips Wheels was quoting at Rs 1,189, up Rs 24, or 2.06 percent.

Posted by Rakesh Patil
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