Transformers and Rectifiers hits 20% upper circuit after order win

The company continuously thrives to deliver quality products and services and over a period of time has become a leading manufacturer of transformers in India and cater the export business in various countries, it added.

Dec 24, 2019 12:12 IST India Infoline News Service

Transformers and Rectifiers
Transformers and Rectifiers (India) Limited has been awarded the order of Transformers amounting to Rs166cr from Transmission Company of Nigeria PIc, Maitama, Abuja (Worldbank funded Project). The company said order falls under the normal course of business. The company neither has any interest in the entity that awarded the order nor fall within related party transactions. With this order, the company's order book as on date stands around Rs1,161cr, the company said in the filing.

The company continuously thrives to deliver quality products and services and over a period of time has become a leading manufacturer of transformers in India and cater the export business in various countries, it added.

Stock view:
Transformers & Rectifiers India Ltd is currently trading at Rs7.84, up by Rs1.3 or 19.88% from its previous closing of Rs6.54 on the BSE.

The scrip opened at Rs6.54 and has touched a high and low of Rs7.84 and Rs6.50 respectively.

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