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\n <\/div>\nBuy \/ Sell Steel Str Wheel<\/span> share<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n\n Shares of Steel Strips Wheels Ltd. gained over 5 percent in intra-day trade on Friday after the company announced that it has prepaid Rs 81.26 crore of its long-term debt.<\/p>\n<\/div>\n After this prepayment, along with normal repayments for the period, the company\u2019s long-term debt has reduced to Rs 270.20 crore from Rs 374.39 crore as on March 31, 2022.<\/p>\n<\/div>\n The company said that it was working to further pre-pay its long-term loans in the next quarter to remain on course with its target of achieving financial leverage of sub 1.5 times total debt.<\/p>\n<\/div>\n The company had said, \u201cSteel Strips Wheels Ltd. has acquired 2,600 shares of Rs 10 each (26 percent stake of paid-up share capital) in Clean Max Astria Pvt. Ltd. for a consideration of Rs 26,000.\u201d<\/p>\n<\/div>\n It will further invest, in one or more tranches, about Rs 3.96 crore in Clean Max Astria for maintaining its shareholding to 26 percent of the paid-up share capital as per the shareholder\u2019s agreement.<\/p>\n<\/div>\n The acquisition was done for establishing and developing wind and solar hybrid power generation facilities in Gujarat, having wind turbine generators of 3.3 l4VA capacity and a solar capacity of 2.64 MWp (DC) by entering into an energy supply agreement and shareholders agreement.<\/p>\n<\/div>\n Shares of Steel Strips Wheels Ltd. ended 2.51 percent higher at Rs 159 on Friday.<\/p>\n<\/div>\n
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