SSWL soars on bagging exports order for OTR steel wheels for OEM
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Steel Strips Wheels is currently trading at Rs. 251.05, up by 11.10 points or 4.63% from its previous closing of Rs. 239.95 on the BSE.
The scrip opened at Rs. 240.05 and has touched a high and low of Rs. 254.75 and Rs. 240.05 respectively. So far 21011 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 258.10 on 26-Jul-2023 and a 52 week low of Rs. 126.20 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 255.85 and Rs. 234.05 respectively. The current market cap of the company is Rs. 3929.26 crore.
The promoters holding in the company stood at 62.68%, while Institutions and Non-Institutions held 6.86% and 30.46% respectively.
Steel Strips Wheels (SSWL) has received its first Exports order for OTR wheels for an OEM in Oceania market. The orders are for 3 wheel sizes and would be executed from next month onwards from Dappar plant. This marks entry of SSWL in a new segment and geography which compliments its strategy to increase its presence in the global OEM market of OTR Steel wheels.
SSWL is engaged in the manufacturing of single piece steel wheel rims for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
