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Steel Strips Wheels freezes at 5% upper circuit on stock split plan

The primary motive of a stock split is to make shares seem more affordable to small investors.

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Illustration: Ajay Mohanty

SI Reporter Mumbai
Shares of Steel Strips Wheels (SSWL) were locked in the 5 per cent upper circuit at Rs 1,665.15 on the BSE on Tuesday after the company announced that its board will meet on September 3, 2021 to consider stock split.

The stock of auto parts & equipment company had hit a record high of Rs 1,741.80 on August 8, 2021. Till 02:50 pm, a combined around 62,000 equity shares had changed hands and there were pending buy orders for 17,000 shares on the NSE and BSE, the data shows. In comparison, the S&P BSE Sensex was up 0.09 per