India, Dec. 23 -- The shares of the engineered product manufacturer hit 5 percent upper circuit in today's trading session after the company entered into a strategic Memorandum of Understanding with a Middle East-based company.

With a market capitalisation of Rs 467.96 crore, the shares of Sunita Tools Ltd were trading at Rs 794.00 per share, increasing around 4 percent as compared to the previous closing price of Rs 765.90 apiece

Memorandum of Understanding The shares of Sunita Tools Limited have seen bullish movement after entering into a Strategic MOU with a Middle East-based company to support the execution of formalities and paperwork of an upcoming defence order for M107.

M107 refer to different military systems, most commonly tw...