Steel Strips Wheels Surges 9% on Export Order

Shares of Steel Strips Wheels rose as much as 9 per cent to Rs 359 in trades on Wednesday after the company reported that it has received new export order from Renault Brazil.

 

The wheel rim maker said that it has bagged order from Renault Brazil for exporting 7,60,000 wheel rims the order is worth euro 5.8 million. 

 

The company in a press release said that with this order it has strengthened its export orders with Renault Global and said that, "SSWL's global share of business is steadily increasing with Renault and hope to maintain its dominance."

 

The shares of Steel Strips Wheels opened at Rs 329 and touched high of Rs 359. At 1:14 PM, the shares were trading higher by 6 per cent at Rs 348.