52-Week High Alert: Shares of this smallcap multibagger company surged more than 10 per cent in Friday’s session!

The stock has witnessed heavy buying and has given multibagger returns of more than 150 per cent in just 1 year and more than 65 per cent in just 6 months.

On Friday, Sterling Tools shares experienced a sharp rise of more than 10 per cent, reaching an intraday high and a new 52-week high of Rs 392.60 apiece, while trading volume surged and closed 5.56 per cent up at Rs 376.15 per share on BSE.

For the quarter ending December 31, 2022, Sterling Tools' consolidated net sales surged by more than 71 per cent compared to the same quarter last year, reaching Rs 207.83 crore. Additionally, the EBITDA level saw a spike of over 70 per cent from December 2021, reaching Rs 28.71 crore and the company's net profit zoomed by more than 150 per cent from the corresponding quarter in the previous year, reaching Rs 13.92 crore. 

This revenue growth can be attributed to various factors, including an increase in content per vehicle, overall robust industry demand and an increase in parts SOB in select OEMs. In light of these results, the management at Sterling Tools India stated that the company would continue to focus on increasing sales in the EV vertical by catering to new OEMs, developing new products and enhancing its engineering capabilities. This strategy is expected to enable the company to expand its footprint and capture a significant market share. 

Established in 1979, Sterling Tools is a renowned manufacturer and exporter of high-quality hand tools, automotive tools and industrial tools. Its extensive product range includes sockets, wrenches, pliers, screwdrivers and other tools catering to various industries such as automotive, construction and engineering. 

The stock has witnessed heavy buying and has given multibagger returns of more than 150 per cent in just 1 year and more than 65 per cent in just 6 months. Keep a close eye on this trending multibagger stock.