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Steel Strips Wheels Share Price Rises Over 4% On Export Order Win

Company expects to have 5 percent YOY growth in June 2020 in its exports numbers from Chennai plant.

May 28, 2020 / 02:23 PM IST
 
 
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Steel Strips Wheels share price rose 4.5 percent intraday on May 28 after the company won an export order.

The company has bagged firm exports orders for over 25,000 wheels for EU Caravan Trailer & US Mobile Home Market to be executed within July from its Chennai plant.

This marks gradual re-start of operations in EU & US post-COVID lockdown.

Additional orders are expected in coming weeks from several other regular customers as the market begins to recover.

The company expects to have 5 percent YOY growth in June 2020 in its exports numbers from Chennai plant.

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At 14:02 hrs, Steel Strips Wheels was quoting at Rs 342.15, up Rs 9.15, or 2.75 percent on the BSE.
Reuters
first published: May 28, 2020 02:23 pm

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