Here's why Sterling Tools share price soared over 9% in trade on Sep 15

Shares of automotive component manufacturer Sterling Tools were ruling higher on the bourses on Monday, September 15, 2025. The company’s shares advanced 9.31 per cent to hit a fresh intraday high of ₹361.95 per share on the NSE during the day’s trading session.

 

The company’s shares continued to trade northward on the bourses. At 2:53 PM on Monday, shares of Sterling Tools were seen exchanging hands at ₹345.80 per share, up 4.44 per cent from its previous close of ₹331.10 on the NSE. A combined total of nearly 0.4 million equity shares of Sterling Tools, estimated to be worth ₹13.50 crore, have exchanged hands so far on the BSE and NSE today.

 

The market capitalisation of the company stood at ₹1,251.98 crore. The company’s share price is currently 34 per cent up from its 52-week low of ₹270, touched on April 7 this year.

Why were Sterling Tools shares in demand today?

The upward movement in the company’s share price came on the back of the news that Sterling Tools, through its subsidiary, Sterling Gtake E-Mobility (SGEM), is foraying into EV On-board Chargers and DC/DC converters for electric vehicles.

 

The company informed the exchanges that SGEM has signed Technology License and Supply Agreements with Landworld Technology Co. Ltd., China, to locally manufacture On-board Chargers, DC/DC Converters, and Multi-Function Units (incorporating On-board Chargers, DC/DC Converters, as well as Power Distribution Units (PDUs)).

 

“The company will manufacture these units at its EV campus in Faridabad. The partnership is expected to generate around ₹450 crore in business by FY30 in a market segment projected to reach ₹3,000 crore. By producing these components domestically, Sterling Gtake aims to drive import substitution, aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the auto industry in India,” Sterling Tools said in an exchange filing.

 

Commenting on the development, Anil Aggarwal, chairman of Sterling Tools, said, “We are expanding beyond our initial Motor Control Unit and Power Train platforms to meet our customers’ growing demand for advanced technology in the EV sector. EV sub-systems are increasingly being consolidated into multifunction units, and Sterling hopes to offer our customers greater choices for stand-alone and multifunction units to cover multiple vehicle functions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India.”