Sterling Gtake E-mobility Ltd forays into E-LCV business

Sterling Gtake E-mobility (SGEM), a 100% subsidiary of Sterling Tools Limited (BSE: 530759; NSE: STERTOOLS) today announced its foray into E-LCV segment. With this development, SGEM continues to grow its presence across various E-mobility segments. Starting with supplies to a single Electric 2W customer a year back, the company now has confirmed orders from more than 10 customers.

Earlier this month the Company was awarded business by India's leading Commercial Vehicle OEM for its E-LCV (Electric Light Commercial Vehicle) program. The supplies for this program are expected to commence during the last quarter of the current financial year.

"This 'win' will help SGEM to diversify the customer base across different vehicle segments and would broaden the technical expertise of the SGEM team over various applications." commented Mr. Anil Aggarwal, MD, Sterling Group.

Shares of Sterling Tools Limited was last trading in BSE at Rs. 284.55 as compared to the previous close of Rs. 261.15. The total number of shares traded during the day was 49909 in over 2721 trades.

The stock hit an intraday high of Rs. 287.25 and intraday low of 270.85. The net turnover during the day was Rs. 14083599.00.

Source : Equity Bulls

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SterlingTools INE334A01023 SterlingGtakeEmobility ELCV