iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Sterling Tools' step-down subsidiary forays into E-LCV Business; stock climbs ~2%

28 Jun 2022 , 11:53 AM

Sterling Tools Limited today announced that its 100% subsidiary Sterling Gtake E-mobility (SGEM) forayed into the E-LCV segment.

With this development, SGEM expands its presence in various E-mobility segments. Beginning with a single Electric 2W customer a year ago, the company now has confirmed orders from over ten customers.

“This ‘win’ will assist SGEM in diversifying its customer base across various vehicle segments and broadening the technical expertise of the SGEM team across various applications,” Anil Aggarwal, MD of Sterling Group, commented.

Sterling Tools Ltd., one of India’s leading automotive fastener manufacturers, and Jiangsu Gtake Electric Co. Ltd., China formed SGEM. SGEM has been at the forefront of the EV value chain in India by providing localized Motor Control Units (MCUs) for Battery and Hybrid Electric Vehicles.

Sterling Tools is currently trading at Rs289.25 up by Rs4.7 or 1.65% from its previous closing of Rs284.55 on the BSE. The scrip opened at Rs289.95 and has touched intraday high and low of Rs297 and Rs287.65 respectively.

Related Tags

  • SterlingTools
  • SterlingToolsNews
  • SterlingToolsSharePrice
  • SterlingToolsStock
  • SterlingToolsStockPrice
  • SterlingToolsUpdates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.