Steel Strips Wheels Ltd. is glad to announce that it has bagged its maiden export order from Elio Motors, USA. This order is one of SSWL's biggest Export order in its history. Supplies would be for Elie's plant in Shreveport, Louisiana and would be executed from SSWL's Chennai plant.



This order that will include development of 2 Ground wheels also marks SSWL's entry into a new geography. Total project volume would be approx 3 min wheels spread over 5 years generating cumulative revenue of about US$55mn.



SSWL aims to increase its presence in North America by launching its Commercial Vehicle Steel wheels and Passenger Car Alloy wheels from its upcoming green field plants in India in coming months.

Stock View:



Steel Strips Wheels Ltd is currently trading at Rs. 517, up by Rs. 24.25 or 4.92% from its previous closing of Rs. 492.75 on the BSE.



The scrip opened at Rs. 492.75 and has touched a high and low of Rs. 521.85 and Rs. 492.75 respectively. So far 83774(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 764.85 crore.



The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 551.3 on 27-Jul-2016 and a 52 week low of Rs. 284 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 517.95 and Rs. 490.5 respectively.



The promoters holding in the company stood at 59.01 % while Institutions and Non-Institutions held 0.55 % and 40.43 % respectively.



The stock is currently trading above its 50 DMA.