Steel Strips Wheels Rallies After Promoters Reduce Pledged Shares

Shares of the Chandigarh-based steel wheel rim maker, Steel Strip Wheels Limited, rallied as much as 18 per cent to hit fresh 52-week high of Rs 1,350 on the BSE after the company informed exchanges that its promoters reduced number of pledged shares. Steel Strips Wheels informed stock exchanges that on Tuesday, July 13, 1,33,000 shares were released from the pledge and accordingly, now the number of shares pledged has been reduced t...