Steel Strips Wheels surges 11% intraday on export order

MUMBAI: Shares of Steel Strips Wheels surged 10.92 per cent intraday on bagging an order from Canadian Passenger Car aftermarket. This would mark the entry of SSWL wheels in North America.

The stock ended the day at Rs 308.80, up 2.25%, on the BSE.

"Order volumes are expected to go up to 40K wheels next year with total value of around $1 million per annum. The program will run for 5 years and resulting in volumes of 175K and revenue addition of $4.5 million," the company said in a filing to stock exchanges.

Apart from this, the company is also in advance stages of bagging an order from Polish aftermarket party for Passenger Car wheels.