Moneycontrol
Last Updated : Apr 13, 2017 02:36 PM IST | Source: Moneycontrol.com

Sterling Tools hits new high; signs business collaboration agreement with Japan Co

The company has 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.

 
 
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Share price of Sterling Tools touched 52-week high of Rs 268.25, rises 7.5 percent intraday Thursday as it has signed a business collaboration agreement with Japan-based company.

“The company has signed a business collaboration agreement with a Japan based company named Meidoh Co,” company said in a BSE filing.

The company has 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.

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It has convened an extraordinary general meeting to obtain shareholders' approval on May, 10 for the proposed preferential allotment.

At 14:24 hrs Sterling Tools was quoting at Rs 264, up Rs 14.50, or 5.81 percent on the BSE.

Posted by Rakesh Patil
First Published on Apr 13, 2017 02:27 pm
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