STEEL STRIPS WHEELS  SHARES GAINED WHY : EXPLAINED IN DETAIL ?

STEEL STRIPS WHEELS SHARES GAINED WHY : EXPLAINED IN DETAIL ?


Steel Strips Wheels shares up 1.5% percent intraday after the organization Bagged a fare order request from the US.

The organization has packed away firm fare orders for more than 116,00 wheels for US Caravan Trailer Market to be executed in the long stretch of October from its Chennai plant, according to organization discharge.

The inflow of more order is relied upon to originate from different clients as the market picks up steadiness. production at the Chennai steel wheel plant will additionally increase with such turns of events, it included.

The organization accomplished July 2020 Total wheel Rims deals of 9.25 lakh versus 12.59 lakh in July 2019 speaking to a de-development of 27 percent YoY.

Organization hopes to keep up great month-on-month upturn to come to pre-COVID levels by September 2020.

It has accomplished a gross turnover of Rs 132.75 crore in July 2020 versus Rs 182.52 crore in July 2019, in this way recording a de-development of 27 percent and accomplished a net turnover of Rs 110.35 crore in July 2020 versus Rs 154.50 crore in July 2019, recording a de-development of 29 percent.

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