Steel Strips Wheels bags export order

Steel Strips Wheels on Tuesday informed the exchanges that it has bagged another export order for supply of steel wheels for the European Union caravan market. The order comprises 18,500 newly developed steel wheels to be shipped from the company’s Chennai plant from the current month, the company said. Last week the company said it had received an export order for its truck wheels plant in Chennai. Besides, the company is in advanced stage of discussions to finalise long-term contracts with multiple European customers and expects to close them by early next year. Shares of Steel Strips gained 1.58 per cent at ₹1,061.95 on the NSE.