After the company declared that it had bagged an export order for the supply of Caravan Steel wheels for EU Trailer market, SSWL share price has moved up to its new lifetime high of Rs 748, up 6.5% on the National Stock Exchange (NSE).
Total order is for supplying approximately 115,000 wheels over a period of six months. Orders will be carried out from the Chennai plant of SSWL with the shipments starting from November 2016.
This order signifies the strong presence of SSWL in the tremendously competitive EU Caravan wheels market complimenting the strategy that was formulated a year back. The company is anticipating receiving additional orders for the Caravan wheels from other EU customers in coming weeks.
So far in October, the stock outperformed the market by rising 29% after the company declared that it had achieved 11% year on year growth in its total wheel rim sales to 1.21 million in September 2016 in comparison to 1.09 million in September 2015. The Nifty50 Index gained 1.26% in last six trading sessions.
SSWL said that the tractor and passenger segment performed extremely well and expected to trend the same path in the third quarter of 2016-17.
Recently, on July 20th, SSWL share price had rallied over the company bagging yet another order from Mobius Motors, a Kenyan company. Under this order, the company marked its entry in the East Africa by promising to develop 150,000 ground wheels of 16” for Mobius Motors over a spread of five years. The cumulative revenue that will be generated in this particular project will amount to USD 2.4 million. SSWL is also supplying wheels to Morocco and Egypt.
SSWL is the multibagger pick of the month by Dynamic Levels. For the details on the stock, visit SSWL share price history page of Dynamic Levels website.
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