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Steel Strips Wheels bags 17,000 truck wheel order from USA

Steel Strips Wheels Limited (SSWL), manufacturer of steel wheel rims, bagged an export order for supplying truck and trailer steel wheels to the USA aftermarket. Wheels will be dispatched from SSWL’s Chennai facility in the next three months. Order comprises of 17,000 truck wheels. Total value of the order is close to $7,00,000.

SSWL is into design, manufacturing and marketing of Steel Wheel Rims for Passenger cars, Utility vehicles, 2/ 3 wheelers, Tractors, Light/ Heavy commercial vehicles and OTRs. It has a capacity of nearly 1.7cr wheels per annum.

SSWL is in discussions with other large truck & trailer makers in USA and expects to get more orders in this segment in near future. SSWL expects to increase its presence in high potential Truck & Trailer wheels market in US & EU in the coming months.

Steel Strips Wheels Ltd is currently trading at Rs1,288.50 down by Rs9.65 or 0.74% from its previous closing of Rs1,298.15 on the BSE.

The scrip opened at Rs1,310 and has touched a high and low of Rs1,310 and Rs1,275.95 respectively. So far 5,697 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs2,019.44cr.