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Steel Strips Wheels share rises 5% on orders from US and European Union

BusinessToday.In     October 13, 2020

Steel Strips Wheels share price gained over 5% intraday in Tuesday's early session after the company bagged orders of over $3,68,000 from US and the EU.

The company confirmed export orders of nearly 38,000 wheels for US & EU market, to be executed in December & January from its Dapper & Chennai plant.

Steel Strips Wheels stock price touched an intraday high of Rs 495.35, rising 5.13% against the last close of Rs 471,.20. The stock opened at Rs 477, also its intraday low.

Steel Strips Wheels share trades higher than 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.

The stock has gained 8% in the last week and 11% in the last one month. SSWL market capitalisation stood at Rs 745 crore as of today's session.

Steel Strips Wheels Ltd (SSWL) share touched its 52-week high Rs 787.50 on 11 November 2019 and 52-week low Rs 317.35 on 20 May 2020, respectively.

Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed.

The stock later settled 2.99% higher at Rs 485.30 on BSE today.

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