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Sterling Tools is currently trading at Rs. 360.75, up by 24.00 points or 7.13% from its previous closing of Rs. 336.75 on the BSE.

The scrip opened at Rs. 339.85 and has touched a high and low of Rs. 374.40 and Rs. 339.85 respectively. So far 27813 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 437.70 on 17-Apr-2023 and a 52 week low of Rs. 305.00 on 28-Mar-2024.

Last one week high and low of the scrip stood at Rs. 374.40 and Rs. 315.05 respectively. The current market cap of the company is Rs. 1293.09 crore.

The promoters holding in the company stood at 65.77%, while Institutions and Non-Institutions held 5.50% and 28.73% respectively.

Sterling Tools through its subsidiary has signed a Memorandum of Understanding (MoU) with South Korea’s, Yongin Electronics Co., a major supplier of components to the Hyundai Kia Motor Group.

This strategic agreement, expected to generate Rs 250 crore in business over the next 5 years, marks a crucial step in advancing the production of electric vehicle (EV) and electronic components within India. To accelerate the production capacity, Sterling Tools will set up a new greenfield manufacturing facility in the country.

As a key supplier of components, Yongin Electronics Co., offers its technological expertise to the India’s growing EV sector. This association strengthens Sterling’s EV component portfolio by increasing local value addition and backward integration into passive components, in line with the 'Atma Nirbhar Bharat' vision of the Government of India.

The MoU enhances Sterling’s capability to provide solutions for EV & Hybrid space, as well as other automotive applications, incorporating the latest technology from Yongin. This collaboration between Sterling and Yongin covers the entire portfolio of magnetic components required for various applications in India’s EV and electronics manufacturing growth.  

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.