Transformers and Rectifiers zooms 20 per cent

Shares of Transformers and Rectifiers (India) Ltd jumped more than 20 per cent as the market participants cheered the company’s new order win.

Transformers and Rectifiers (India) informed the exchanges on Wednesday that it has received order for 21 no. of transformers amounting to Rs. 126 Crores from Power Grid Corporation of India Limited. The said order falls under the normal course of business.

It further added that 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 Rs. 1001 crores.

The company had reported fall in its revenues to Rs. 167.29 crore in Q1FY20 from Rs. 229.17 crore in Q4FY19 and from Rs. 223.82 crore in Q1FY19. Net profit in Q1FY20 had also plunged to Rs. 0.81 crore from Rs. 2.43 crore in Q1FY19 and Rs. 5.33 crore in Q4FY19.

Transformers and Rectifiers has stated that the company continuously thrives to deliver quality products and services and over a period of time has become a leading manufacturer of transformers in the Country.

On Thursday, the shares of Transformers and Rectifiers opened at Rs. 7.10 in BSE as compared to the previous close of Rs. 6.98. The stock has made an intraday high of Rs. 8.37 and low of Rs. 7.10. At 10:52 hours, the stock was trading at Rs. 8.19, up by 17.34 per cent.