The company has received the order of 18,500 newly developed steel wheels that has to be shipped from Chennai plant of the company from this month onwards.

On Tuesday, Steel Strips Wheels share price gained 2.5 percent intraday as the company bagged another exports order for supply of steel wheels. The order was received from the European Union caravan market.

The company has received the order of 18,500 newly developed steel wheels that has to be shipped from Chennai plant of the company from this month onwards.

On Monday, the company reported that the Steel Strips Wheels has achieved total wheel rim sales of 12.92 lakh in November 2017. However, earlier in the month of November, it was just 11.99 lakh. This shows, there is total 8 percent growth in the sales.

The company also stated that the volumes of truck segment helped post highest healthy revenue growth for it.

If the value of the company is discussed then it has achieved gross turnover of Rs 172.75 crore in November 2017 against 128.62 crore in November 2016, there by recording a growth of 34 percent and achieved net turnover of Rs 138.85 crore in November 2017 against Rs 115.25 crore in November 2016, recording a growth of 20 percent.

On the BSE, the stock price was quoting at Rs 1,071.50, up Rs 22.35, or 2.13 percent at 10:32 hours IST.

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