Transformers & Rectifiers Ltd secures orders worth Rs 63 crore from GETCO

The shares of Transformers & Rectifiers (India) Limited were trading in the green on Monday after the company announced that it has been awarded orders for transformers from Gujarat Energy Transmission Corporation Limited (GETCO).  

The total consideration of the order is estimated at Rs 63 crore in comparison to the order book of the company, which stands close to Rs 966 crore. The company has become a leading manufacturer of transformers in the country.   

It clarified in its filing to BSE that the orders fall under the normal course of business and it neither has any interest in these entities that awarded the orders nor fall within related-party transactions.  

On Monday, the stock of Transformers & Rectifiers (India) Limited closed at Rs 29.30, up by 2.63 per cent or Rs 0.75 per share as against a 0.15 per cent gain in the benchmark index. The 52-week high and 52-week low of the scrip was recorded at Rs 31.75 and Rs 7.73, respectively on BSE.