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Steel Strips Wheels shares jump 7% on new orders from US

The order comprises supplies of close to 14,000 steel wheels to be executed in the month of July and August from its Chennai plant, the company said in a filing to the exchanges.

June 30, 2020 / 11:14 AM IST
 
 
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Steel Strips Wheels share price jumped over 7 percent intraday on June 30 after the company received new orders for over $315,000 from the US.

The company has bagged fresh export orders for Truck & Caravan Trailer Market. The order comprises supplies of close to 14,000 steel wheels to be executed in the month of July and August from its Chennai plant, the company said in a filing to the exchanges.

Total revenue generated by this additional order would be over $3,15,000. Repetitive orders are expected in coming weeks from several other regular customers as the market begins its recovery, the company added.

The stock price has gained over 31 percent in the last 1 months and was trading at Rs 452.65, up Rs 33.15, or 7.90 percent at 10:47 hours. It has touched an intraday high of Rs 457 and an intraday low of Rs 420.90.
Moneycontrol News
first published: Jun 30, 2020 11:14 am

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