Shares of Steel Strips Wheels rose more than 4 per cent to hit a 52-week high on Monday after it announced that it has bagged an export order for supply of caravan steel wheels for EU Trailer market.
"Total order is for supplying approximately 115,000 wheels in a period of six months. Orders will be executed from SSWL's Chennai plant with shipments starting from November 2016," SSWL said in a press release.
This order marks strong presence of SSWL in the extremely competitive EU Caravan wheels market complimenting the strategy that was formulated a year back. SSWL is expecting to receive additional orders for the Caravan wheels from other EU customers in coming weeks, added.
SSWL Designs & manufactures automotive steel wheels since 1991 and is among the leading suppliers to Indian & Global Automobile Manufacturers.
Shares of Steel Strips Wheels were seen trading at Rs 732, higher by 4.49 percent on BSE at 12.45 pm IST. It touched an intra-day high and 52-week high of Rs 746 during trade.