Steel Strips Wheels share price rises 3% on new orders from Europe & US

The share price surged 47 percent in the last 3 months.

Steel Strips Wheels share price rose more than 3 percent intraday on August 24 after the company bagged export orders from Europe and the US.

The company has bagged firm export orders for over 3,200 wheels for EU Truck and US Mobile Home Market to be executed in September from its Chennai plant.

Total value is around $57,000 and similar orders are expected in times to come from other regular customers as the market regains normalcy.

At 11:35 hrs Steel Strips Wheels was quoting at Rs 486.85, up Rs 11.35, or 2.39 percent on the BSE.

The share touched its 52-week high Rs 798 and 52-week low Rs 317.35 on 20 September 2019 and 20 May 2020, respectively.

Currently, it is trading 38.99 percent below its 52-week high and 53.41 percent above its 52-week low.

The share price surged 47 percent in the last 3 months.

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