Shares of Steel Strips Wheels Limited (SSWL) soared 3.27 per cent on the BSE to a high of Rs 460.55 on the BSE. The Chandigarh-based steel wheel rim manufacturer has received orders for about 5,100 wheels for the EU caravan trailer market. The order will be executed in October in an exchange filing by the Chennai plant, Steel Strips Wheels Limited.
The company said orders of similar capacity are estimated from the same customers as businesses have gained momentum.
Shares of Steel Strips Wheels Ltd. have plummeted 42 percent this year following lower car sales due to a Kovid-19-inspired lockdown in the country.
Meanwhile, since the company started the unlock process, new orders have been getting. Earlier this month, Steel Strips Wheels Limited received an export order for 1,10,000 wheels from the US Caravan Trailer Market in two separate orders and an export order for approximately 2,700 wheels for the US Truck Trailer market. Both orders will be executed from its Chennai plant.
By 12:50 pm, Steel Strips Wheels shares were trading nearly 2 percent higher at Rs 454.10, 0.54 percent higher than the Sensex.