Steel Strips 'wheels' into green

Steel Strips Wheels rose almost 4% to Rs.951, just 5% lower than its 52-week high of Rs.999. It has come off the intra day high levels and remains in the green, at Rs.934 levels.

The company announced today morning that it has received an export order for its truck wheels. This is for 6000 truck wheels, supply to begin from Dec’17 and over a period of 12 months.

The company has neither divulged the name of the buyer/s nor has it placed any financial value to this order.

It also made another broad statement – it is in advanced stage of discussions to finalise long term contracts with multiple European customers and expects to close them by early next year. It added that it has already marked its entry in the high potential truck and trailer steel wheels market in EU and aims to strengthen it in near future.