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Sterling Tools zooms on inking business collaboration pact with Meidoh

13 Apr 2017 Evaluate

Sterling Tools is currently trading at Rs. 260.20, up by 10.70 points or 4.29% from its previous closing of Rs. 249.50 on the BSE.

The scrip opened at Rs. 253.50 and has touched a high and low of Rs. 261.20 and Rs. 252.20 respectively. So far 7083 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 268.25 on 13-Apr-2017 and a 52 week low of Rs. 86.20 on 02-Jun-2016.

Last one week high and low of the scrip stood at Rs. 268.25 and Rs. 220.60 respectively. The current market cap of the company is Rs. 881.07 crore.

The promoters holding in the company stood at 70.15%, while Institutions and Non-Institutions held 0.58% and 29.28% respectively.

Sterling Tools has signed a business collaboration agreement with a Japan based Company named Meidoh Co. having its principal office at 4-5 Sangen-cho, Toyota, Aichi in Japan. The company has also signed share subscription agreement with the aforesaid company.

Accordingly approved the proposal to issue 18,01,211 equity shares on preferential basis of face value of Rs 2 to aforesaid company, at an issue price of Rs 246.60 per share in accordance with the chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations. 2009 and subsequent amendments thereto [SEBI (ICDR) Regulation, 2009], who form part of the person belonging to the Non Promoter Category subject to all the requisite statutory approvals including approval from Shareholders.

Sterling Tools Share Price

242.80 0.00 (0.00%)
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