Shares of Steel Strips Wheel Ltd (SSWL) rose 1.65 per cent to ₹202.80 on the BSE at 1.15 pm on Friday after it announced that it has bagged a significant contract from a European Original Equipment Manufacturer (OEM) for the supply of steel wheels.
According to the company’s stock exchange filing, this multi-year agreement, worth approximately 15 million euros, will have a term of six years, with series production starting at the end of 2026.
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Furthermore, this contract award further solidifies SSWL’s strategic expansion into the European OEM market and aligns with the company’s broader objective to expand its global footprint. The company expects further business opportunities from global OEMs in the near future, further strengthening its position in the automotive industry.
