Steel Strips Wheels (SSWL), a producer of automobile wheel rims, has bagged an exports order from Renault's Moscow, Russia plant. Vehicles would be sold in Russia, Ukraine & other CEIR countries.
This a great order wins by SSWL despite the Russian currency depreciation indicating our superior quality on offer for customer. This is a carryover project and currently the wheel would start by early 2016.
In addition to this, we have also bagged orders from European aftermarkets and wheels to be supplied in this March 2015. The company will start full supplies to the new European customer for entire next financial year. The order value is Euro 2,00,000.00.
Shares of the company gained Rs 28.8, or 9.35%, to settle at Rs 336.80. The total volume of shares traded was 21,029 at the BSE (Wednesday).