Sterling Tools scales record high as board to consider stock-split proposal

Sterling Tools gained 4.8% to Rs 922.35 at 09:18 IST on BSE, after the company scheduled a board meeting on 5 November 2016, to consider stock-split proposal of equity shares.

The announcement was made after market hours yesterday, 18 October 2016.

Meanwhile, the BSE Sensex was down 11.60 points, or 0.04% to 28,039.28

On BSE, so far 581 shares were traded in the counter as against an average daily volume of 2,586 shares in the past one quarter. The stock hit a high of Rs 925.30 so far during the day, which is a record high for the counter. The stock hit a low of Rs 902 so far during the day. The stock had hit a 52-week low of Rs 340 on 21 October 2015.

The small-cap company's equity capital is Rs 6.84 crore. Face value per share is Rs 10.

Sterling Tools' net profit rose 54.62% to Rs 9.37 crore on 13.23% rise in total income to Rs 95.50 crore in Q2 September 2016 over Q2 September 2015.

Sterling Tools is engaged in the manufacturing and marketing of high tensile cold forged fasteners. Over the years, it has become one of the leading OEM suppliers in India with a client base that spans leading automotive companies in India, Europe and USA.

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