Transformers and Rectifiers (India) Ltd surges ~6% on receiving order from PGCIL

Transformers and Rectifiers (India) Limited has received order of Rs. 130 Crores from Power Grid Corporation of India Limited

Mar 16, 2020 11:03 IST India Infoline News Service

Transformers and Rectifiers
Transformers and Rectifiers (India) Limited informed the exchanges Friday that the company has been awarded for supply and service of Transformers amounting to Rs130cr from Power Grid Corporation of India Limited (PGCIL). The company further mentioned that the said order falls under the normal course of business and that the company neither has any interest in the entity that awarded the order nor fall within related party transactions.

The stock has surged more than 6% in trade today.

With this order, the company's order book as on date stands around Rs1,175cr.

Stock view: 
Transformers & Rectifiers India Ltd is currently trading at Rs6.93 up by Rs0.56 or 8.79% from its previous closing of Rs6.37 on the BSE.

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