Stock of this automotive fastener company has zoomed over 110% in 6 weeks

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

Shares of Sterling Tools (STL) hit an over three-year high of Rs 260, gaining 9 per cent on the BSE in Friday’s intra-day trade, on hopes of healthy business outlook. 

Since May 13, the stock has zoomed 111 per cent from a level of Rs 123.20. With this, the stock hit its highest level since May 2019 in the intra-day trade today. The stock had hit a record high of Rs 478 on December 8, 2017.

STL is the second largest automotive fastener manufacturer in India. The company enjoys a healthy share of business (SOB) with leading automotive