Shares of Hind Rectifiers hit the 10 percent upper circuit to scale a fresh record high of Rs 1,067.90 on the National Stock Exchange (NSE), driven by high volumes.
So far in the day, around 3 lakh shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 31,000 shares.
The company last month secured a supply order worth over Rs 200 crore from Indian Railways. The order will be executed by FY26, according to the terms and conditions outlined by Indian Railways, Hind Rectifiers said in a regulatory filing.
It clarified that there is no involvement or interest from the promoter group or group companies in the entity awarding the contract. Additionally, the transaction does not qualify as a related party transaction.
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Founded in April 1958, Hind Rectifiers specialises in the development, design, manufacturing and marketing of power semiconductors, electronic equipment, and railway transportation equipment. Indian Railways remains its largest customer, driven by its strong reputation and advanced technology in locomotives and coaches.
However, the company is diversifying its focus, expanding into the defence and aerospace sectors, having secured certifications for aerospace standards and registered with defence organisations, which are expected to generate additional revenue in the coming years.
Analysts believe that Hind Rectifiers is set to benefit from the government's infrastructure development plans and various power sector projects. The company is also expanding into the defence and aerospace sectors, having secured certifications for aerospace standards and registered with defence organisations
At 10:45 am, Hind Rectifiers shares were trading 6 percent higher at Rs 1,033.05 on NSE. The stock has rallied 95 percent so far this year, outperforming Nifty's returns of 15 percent.
In the past 12 months, the counter has risen 173 percent more than doubling investors' capital. In comparison, Nifty rose 31 percent during this period.
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