Sterling Tools hits 4-year high on strong Q3 results; surges 40% in 1 month
Shares of Sterling Tools rallied 10 per cent to hit an over four-year high of Rs 3719.95 in Thursday’s intra-day trade, in an otherwise weak market after the company’s net profit more-than-doubled for the quarter and nine months ended December 2022. In comparison, the S&P BSE Sensex was down 0.08 per cent at 59,659 at 02:08 PM.
In past one month, the stock of auto ancillary company has zoomed 40 per cent, as against 2.6 per cent decline in the benchmark index, It traded at its highest level since December 2018. It had hit a record high of Rs 478 on December 8, 2017.
Sterling Tools is the 2nd largest automotive fastener manufacturer in India. The company is one of the largest motor control unit (MCU) suppliers for electric vehicles in India.
