Transformers and Rectifiers (India) announced bagging an order worth Rs 565 crore from the Power Grid Corporation of India which sent its shares soaring 5 percent higher in trade on October 3.
The order is for the manufacturing of transformers and reactors with the delivery lined up for FY26.
At 10.14 am, shares of Transformers and Rectifiers were trading at Rs 683.35 on the NSE. The stock is also a multibagger after having delivered returns close to 200 percent in the past year.
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Last month, the company secured another Rs 114 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Limited for power transformers of 50 MVA, 132/33 KV. The company will manufacture the transformers and deliver it by the next financial year.
Moreover, back in June, the company also raised Rs 500 crore through a qualified institutional placement (QIP) which has garnered strong interest from marquee names like Nomura, Goldman Sachs, and HSBC, all of which participated in the fund raise.
The company intended to use the proceeds to fund its capex plans, repay its borrowings, and for working capital, inorganic growth and the general corporate purposes.
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