Sterling Tools moves up on signing technology licensing agreement with UK’s Advanced Electric Machines
Sterling Tools is currently trading at Rs. 317.75, up by 21.75 points or 7.35% from its previous closing of Rs. 296.00 on the BSE.
The scrip opened at Rs. 299.05 and has touched a high and low of Rs. 321.40 and Rs. 299.05 respectively. So far 21401 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 744.30 on 02-Dec-2024 and a 52 week low of Rs. 265.15 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 341.80 and Rs. 288.80 respectively. The current market cap of the company is Rs. 1150.12 crore.
The promoters holding in the company stood at 65.02%, while Institutions and Non-Institutions held 3.36% and 31.61% respectively.
Sterling Tools through its Sterling Gtake (SGEM) subsidiary has forayed into the development, manufacturing and marketing of Rare Earth Magnet-Free traction motors for electric vehicles. The company has signed a Technology Licensing Agreement with Advanced Electric Machines (AEM), UK to manufacture these motors at its plant in Faridabad. The patented AEM technology will enable SGEM to offer customers Magnet-Free motors that offer market-leading performance without any weight or size penalty.
By introducing a mature and commercially viable Rare Earth Magnet-Free technology, SGEM will offer its customers an alternative to the China dependent permanent magnet supply chain. Through this Technology Licensing Agreement, SGEM will serve all segments of the traction motors market that is expected to grow to approximately Rs 15,000 crore by 2030. The business plan also calls for the joint development of integrated motor and controller solutions.
By producing these motors domestically, Sterling Tools aims to drive import substitution and reduce reliance on permanent magnets, aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the auto industry.
Sterling Tools is engaged in manufacturing of high tensile cold forged fasteners for Automotive Industry having its presence amongst all Auto Segments- Passenger Vehicle (PV), Commercial Vehicle (CV), Two Wheelers, Farm Equipment and Off-Roadways.
