Money Control
by Rakesh Patil
Shares of Steel Strips Wheels (SSWL) advanced 5.50 percent intraday Monday as it has bagged export order from PSA Peugeot Citroen.
The company has bagged an order of Euro 15 million for PSA’s upcoming new plant in Kenitra, Morocco and their existing plants Poissy, France & Vigo, Spain.
“This order makes SSWL’s entry into flow forming technology for passenger car steel wheels as it includes development on 2 ground wheels with this process,” as per BSE release.
This order includes 2 carry forward mini spare wheels for new locations and total project volume would be approximately 1.72 million wheels spread over five years.
At 12:37 hrs Steel Strips Wheels was quoting at Rs 341, up Rs 9.20, or 2.77 percent on the BSE.
Posted by Rakesh Patil
