Shares of wheel rim maker Steel Strips Wheels Limited (SSWL) in Chandigarh rose 5 per cent to Rs 1,884. : 2. The shareholders of the Company at the 35th Annual General Meeting of the Company divided the shares of the Company into two shares of Rs.
The company has not yet announced a record date for the purpose of the subdivision of the stock.
In the context of the subdivision of the stock markets, the aim is to provide improved cash flow for the company’s shares in the stock market and to encourage the participation of small investors by offering the company’s investment shares at affordable prices.
In other decisions at the shareholders meeting, Steel Strips Wheels shareholders approved the appointment of Siddharth Bansal as the company’s non-executive independent director for the consecutive term of Rajinder Kumar, from November 9, 2020 to September 30, 2025. Correction in the salary of Cork as Chairman and Non-Executive Director of the Company and Theeraj Cork as Managing Director of the Company.
The Steel Strips Wheels Board is considering splitting shares on September 3rd.
Shares of Steel Strips Wheels traded up 2.56 per cent at Rs 1,841, up 1 per cent over the Sensex, as of 1:46 pm.