Shares of Metal Strips Wheels Ltd. (SSWL) rose as a lot as 3.27 per cent to hit an intraday excessive of Rs 460.55 on the BSE after it knowledgeable inventory exchanges that it has secured an order for wheels from European Union caravan trailer market. The Chandigarh-based metal wheel rim maker has received order for almost 5,100 wheels for EU caravan trailer market. The order shall be executed in October from its Chennai plant, Metal Strips Wheels Ltd. mentioned in an change submitting.
The corporate added that orders of comparable capability are anticipated from the identical buyer as companies have picked up tempo.
Metal Strips Wheels Ltd. shares worth has up to now this yr dropped 42 per cent following low automotive gross sales owing to Covid-19-induced lockdowns within the nation.
In the meantime, because the unlock course of started the corporate, has been getting new orders. Earlier this month in two separate orders, Metal Strips Wheels Ltd., received export orders for 1,10,000 wheels from US caravan trailer market and an export order for almost 2,700 wheels for US truck trailer market. Each the orders shall be executed from its Chennai plant.
As of 12:50 pm, Metal Strips Wheels shares traded almost 2 per cent larger at Rs 454.10, outperforming the Sensex which was up 0.54 per cent.
