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Steel Strips Wheels share price up 3% on export order

Steel Strips Wheels (SSWL) share price added 3 percent intraday on November 3 after bagging export order.

The company confirms export orders of nearly 23,000 wheels for EU trailer market, to be executed in the month of December from its Chennai plant.

The company expects continued acceleration in exports.

The company has achieved gross turnover of Rs 214.64 crore in October 2020 versus Rs 125.79 crore in October 2019, recording a growth of 70 percent.

It achieved net turnover of Rs 175.29 crore in October 2020 versus Rs 104 crore in October 2019, a growth of 68.5 percent.

SSWL achieved total wheel rim sales of 14.85 lakh in October 2020 versus 10.55 lakh in October 2019 representing a growth of 41% YoY.

At 11:36 hrs Steel Strips Wheels was quoting at Rs 489.50, up Rs 9.60, or 2 percent on the BSE.

The share touched its 52-week high Rs 787.50 and 52-week low Rs 317.35 on 11 November, 2019 and 20 May, 2020, respectively.

Currently, it is trading 37.84 percent below its 52-week high and 54.25 percent above its 52-week low.


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