SSWL surges on getting nomination for Euro 8 million business from European OEM
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Steel Strips Wheels is currently trading at Rs. 227.75, up by 5.55 points or 2.50% from its previous closing of Rs. 222.20 on the BSE.
The scrip opened at Rs. 223.00 and has touched a high and low of Rs. 232.25 and Rs. 222.25 respectively. So far 83925 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.90 on 16-Oct-2023 and a 52 week low of Rs. 146.15 on 29-May-2023.
Last one week high and low of the scrip stood at Rs. 232.25 and Rs. 210.95 respectively. The current market cap of the company is Rs. 3580.34 crore.
The promoters holding in the company stood at 60.98%, while Institutions and Non-Institutions held 10.21% and 28.80% respectively.
Steel Strips Wheels (SSWL) has received nomination for Steel Wheel business from a leading European OEM. Business value is close to Euro 8 million which will be executed over a span of 6 years. Series supplies are expected to commence from Mid Year 2025 from SSWL’s Chennai plant. SSWL expects more businesses from Global OEMs in coming months which complements its strategy to grow its presence in the EU and US OEM space.
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.
