With a market of Rs. 2,488.40 Crore, Steel Strips Wheels Limited is a Small-cap company engaged in Auto Accessories industry. The company is a leader in the manufacture and production of steel and alloy automobile wheels. The company has production plants at Dappar (Punjab), Oragadam (Chennai), Jamshedpur (Jharkhand), Mehsana (Gujarat) and Seraikela (Jharkhand) besides its headquarters in Chandigarh. These facilities have a total annual production capacity of approximately 20 million wheels. The company’s board of directors has approved a 1:5 stock split of which existing shareholders and potential buyers should be aware.
The company in a regulatory filing said that “In continuation of our letter dated 30.09.2022, we wish to inform you that, at the 36th Annual General Meeting (AGM) of the Company today i.e. on 30.09.2022, the shareholders of the Company have Inter-alia, sub-division of the face value of the existing 1 (a) equity share of the equity shares of the company has been approved 5 each of 5 (five) equity shares of face value of Rs. 1 to each. The record date for the purpose of sub-division of equity shares shall be intimated in due course.”
Stock Split Details of Steel Strips Wheels as per data available on stock exchange filings
Split Ratio: 1:5 i.e. existing one (1) equity share of face value 5/- shall be divided into five (5) equity shares of face value of Rs. 1 to each.
The company in a regulatory filing stated that “The authorized share capital of the company is Rs. 3640.00 lakhs (Rupees three thousand six hundred and forty lakhs only) divided into equity shares of face value of Rs. 190,000,000 (nineteen crores). 1/- each and 12 ,00,000 (Twelve Lakh) Optionally Convertible Preference Shares of Rs.145/- each, cumulative or non-cumulative.
Shares of Steel Strips Wheels Ltd closed on Friday 800.00 on NSE, up 3.98% from previous close 769.40. On Friday, the stock recorded a total volume of 66,893 shares compared to the 20-day average volume of 38,238 shares. In the last 1 year, the stock has fallen 10.70% and on YTD basis, the stock has fallen 6.36% so far in 2022. On NSE, the stock had touched a 52-week high. 964.00 (19-Oct-2021) and 52-week low of At 676.70 (27-Jan-2022) it shows that the stock is trading 17.01% below the high and 18.22% above the low at the current price level. For the quarter ended June 2022, the company recorded a holding of 62.60% (down by 0.17% by QoQ), FIIs of 0.07% (down from 0.14% QoQ), DIIs holding 0.44% and Public holding of 36.89%. Above 36.65% QoQ).
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