Shares of Steel Strips Wheel Ltd (SSWL) gained 1.65 per cent to ₹202.80 on the BSE at 1.15 PM on Friday, after it announced that it has secured a significant contract from an European Original Equipment Manufacturer (OEM) for the supply of steel wheels.
According to the company’s exchange filing, this multi-year agreement, valued at approximately Euro 15 million, will span six years with series production commencing in late 2026.
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Furthermore, this contract award solidifies SSWL’s strategic expansion into the European OEM market and aligns with the company’s broader goal of increasing its global footprint. The company anticipates further business opportunities from global OEMs in the near future, further strengthening its position in the automotive industry.
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Published on December 20, 2024
https://www.thehindubusinessline.com/markets/stock-markets/steel-strips-wheel-shares-gain-2-on-securing-132-crore-order-from-eu-oem/article69008135.ece
