Sterling Tools hits 5-year high, surges 10% on strong business outlook

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.

Shares of Sterling Tools rallied 10 per cent to hit an over five-year high of Rs 392.60 on the BSE in Friday’s intra-day trade on strong business outlook. The stock of auto components & equipments company surpassed its previous high of Rs 390.60, touched on February 3, 2023.  It had hit a record high of Rs 478 on December 8, 2017.

In past six months, the stock has zoomed 76 per cent, as compared to 1.5 per cent decline in the S&P BSE Sensex. Further, in past one year, it has skyrocketed 160 per cent, as against a marginal