What To Watch. Steel Strips: All eyes on results, QIP issue

The board of Steel Strips Wheels will meet on Saturday to consider the company’s results for the June quarter as well as the QIP issue. The auto parts and equipment maker plans to raise ₹100 crore through the issue. Traders will be keenly watch the pricing and schedule of the QIP. The company recently announced setting up of a ₹55-crore hot rolling mill at Seraikela, Jharkhand. The cost will be funded through internal accruals and foreign currency term loan.