Steel Strips Wheels jump nearly 7% after promoter hikes stake

Shares of Steel Strips Wheels have escalated by nearly 7% on the Bombay Stock Exchange (BSE) after the company announced that one of its promoters has hiked her stake in the company by approximately half a per cent.

Ms. Priya Garg, who hiked her stake in the company, has acquired additional 75,000 shares of the company, thus taking her shareholding in the company to 2.37%. In a filing to the BSE, the company said its total promoter and PACs shareholding increased to 58.98% (9000559) of the paid up capital of the Company.

At 11:30 AM, the stock has soared 6.49% to Rs 384 after hitting an intraday high of Rs 390. A combined total of 136,346 shares changed hands on the counter of BSE and NSE.