Steel Strips Wheels gets another Big Truck wheels order from USA
Steel Strips Wheels Limited (SSWL) informed the bourses that it has bagged another Exports order from US-Truck & Trailer Aftermarket for its Truck Steel wheels plant in Chennai.
This order comprises of approximately 9500 truck wheels amounting to USD 425,000.
The company is in discussions with other large truck & trailer makers in USA and expects to close some more contracts in this segment in near future.
Also, it expects to increase its presence in high potential Truck & Trailer wheels market in US & Eu in the coming months.
SSWL is involved in design and manufacture of automotive wheels. The company is a leading supplier to domestic and international automobile manufacturer. The company enjoys the position of market leader in steel wheel segment. It enjoys a health market share in various segment such as OTR (Back Hoe Loader) 70 per cent, Commercial Vehicle (MHCV) 52 per cent, Passenger Car 50 per cent and Tractor 44 per cent.
On Monday, the stock opened at Rs. 1,370 and made an intraday high of Rs. 1,410 on the BSE. At 13:02, the stock was trading around Rs. 1339.05 on the BSE.