Sterling Tools

EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth.

The revenue growth was primarily driven by increase in content per vehicle, overall robust industry demand & parts SOB increase in select OEM's.

In the past eight months, it has more-than-doubled or zoomed 203 per cent from Rs 116.05, which it had touched on May 12, 2022

As on May 31, 2022, Sterling Gtake E-mobility's order book stood at Rs 175 crore, all of which will be executed in FY23

Igarashi Motors, Sterling Tools, Rane (Madras), Rane Brake Lining, Rane Holdings, Sundaram Brake Linings, India Nippon Electricals and Lumax Auto Tech rallied up to 20% on the BSE on Thursday.

The company has entered into a JV agreement with Jiangsu Gtake Electric Company to provide the Indian electric vehicle OEM'S with best in class motor control units (MCUs).

The stock rallied 13% to Rs 262, also its record high on BSE in intra-day trade.

The stock surged nearly 15% to Rs 1,008, also its record high on BSE in intra-day trade.