Transformers and Rectifiers Bags Rs 219 Crore Orders, Shares Surge Over 5%

20 Dec 2023 , 02:18 PM

Transformers and Rectifiers (India) Ltd witnessed a more than 5% increase in its shares on December 20, following the announcement of orders totaling Rs 219 crore from Power Grid Corporation of India Ltd.

This marks the second consecutive order from Power Grid, with a previous contract worth Rs 237 crore disclosed on December 19. Additionally, the company secured an order worth Rs 118 crore from Uttar Pradesh Power Transmission Corporation Ltd on the same day.

The domestic contract from Power Grid involves the designing, engineering, manufacturing, and testing at the manufacturer’s works, encompassing the supply of 13 MVAR. The scope includes multiple phase reactors, fittings, accessories, execution, and transportation services.

The services pertain to 13 Nos of 110 MVAR, 765kV, 1-Phase Reactors, 2 Nos of 125 MVAR 420kV, 3-Phase Reactor, and 6 Nos of 110 MVAR 765kV, 1-Phase Reactors. The contract covers in-transit insurance, loading, installation, and local transportation.

Transformers and Rectifiers (India) Ltd has set a 15-month completion timeframe for the entire contract, starting from the date of the Notification of Award.

Following the announcement, the company’s shares surged 5.35% to reach a high of Rs 199.85 on BSE, near its 52-week high of Rs 206 per share. However, the shares later pared early gains and were trading 1.6% higher at Rs 192.75 per piece on BSE at 12:15 PM.

Transformers and Rectifiers India has exhibited remarkable performance, with shares soaring over 241% in 2023 and delivering exceptional returns of 211% to investors over the past one-year period.

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