Shares of Transformers and Rectifiers (India) rallied 5 percent in the early trade on February 26 after the company received orders of Rs 232 crore from Power Grid Corporation of India Limited.
At 9:23am, Transformers and Rectifiers India was quoting at Rs 357.00, up Rs 15.40, or 4.51 percent, on the BSE.
The order is for designing, engineering, manufacture and testing at manufacturers works and supply of five 500 MVA, 400/220/33kV, 3-Phase ICT, 5 Nos of 500 MVA 400/220/33kV, 3-Phase auto transformers along with all fitting, accessories for complete execution and local transportation, in transit insurance, loading and uploading and installation services.
The entire work has to be completed within 21 months from date of issue of notification of award.
Catch all market action in our live blogThe company's profit increased 13 percent to Rs 15.58 crore in the quarter ended December 2023.
Earlier this month, Power Grid Corporation had agreed to supply 25 MVAR and 8.33MVAR 245kV Shunt Reactors from the Changodar Unit of Transformers and Rectifiers (India) Limited.
The share touched a 52-week high of Rs 397.20 and a 52-week low of Rs 53.00 on January 25, 2024 and March 27, 2023, respectively. Currently, the stock is trading 10.12 percent below its 52-week high and 573.58 percent above its 52-week low.
The share price surged nearly 500 percent in the last one year.
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