SSWL receives new orders for over Rs 64 mn; stock jumps over 6%
Source: IRIS | 03 Dec, 2020, 01.05PM
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Rating: NAN / 5 stars. |
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Steel Strips Wheels (SSWL), a producer of automobile wheel rims, on Thursday received confirmed export orders of nearly 99,000 wheels, to be executed in the period of three months, starting January '21 from its Chennai plant.
The export order is worth more than Rs 64 million and has been received from the Europe market.
Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed, said the company.
The order will be executed from its Chennai plant.
The company is on way to cross 40% growth in its exports this year.
Shares of Steel Strips Wheels are trading at Rs 537.75, up Rs 33.45, or 6.63% at the Bombay Stock Exchange (BSE) on Thursday at 11:50 a.m.
The scrip has touched an intra-day high of Rs 542.40 and low of Rs 504.50. The total volume of shares traded at the BSE is 13,496.
Currently, the stock is trading down 31.41% from its 52-week high of Rs 784 and above 69.45% over the 52-week low of Rs 317.35.
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