Steel Strips Wheels to consider preferential issue on Dec 13, 2010

Steel Strips Wheels Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 13, 2010, to consider and approve, issue and allot security to a "Strategic Investor" (Non Promoter Category), by way of preferential allotment basis, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations and its subsequent amendments made from time to time and other applicable rules, regulations and guidelines and subject to the approval of Shareholders, Statutory Authorities / Regulatory authorities or any other approval as may be required.

The stock was trading at Rs.410.60, up by Rs.5 or 1.23%. The stock hit an intraday high of Rs.424.40 and low of Rs.398.

The total traded quantity was 2.01 lakhs compared to 2 week average of 0.34 lakhs.

Source : Equity Bulls

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