PowerGrid order lifts Transformers & Rectifiers 5%

26 Feb 2024 , 11:23 AM

Transformers and Rectifiers (India) shares increased 5% in early trading on February 26 following orders totaling ₹232 Crore received from Power Grid Corporation of India Limited.

Transformers and Rectifiers India was trading on the BSE at ₹361.00 at 11:23 a.m., up ₹17.20, or 5.00%.

Five 500 MVA, 400/220/33kV, 3-Phase ICTs, five 500 MVA, 400/220/33kV, 3-Phase auto transformers, all fittings and accessories for full execution, local transportation, in-transit insurance, loading and uploading, and installation services are all part of the order. It also includes testing, manufacturing, and testing at the manufacturer’s works.

The full project must be finished in less than 21 months after the date the grant notification was sent out.

The company’s profit for the quarter that ended in December 2023 climbed by 13% to ₹15.58 Crore.

Power Grid Corporation had earlier this month committed to purchase 8.33MVAR and 25 MVAR 245kV Shunt Reactors from Transformers and Rectifiers (India) Limited’s Changodar Unit.

The share closed on January 25, 2024, at ₹397.20, and on March 27, 2023, at ₹53.00, marking its 52-week high and low, respectively. The stock is currently trading 573.58% above its 52-week low and 10.12% below its 52-week high.

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