Transformers and Rectifiers India shares surged to the 5% upper circuit on October 16 following a significant Rs 211 crore block deal on the exchanges. Approximately 27 lakh shares changed hands at a floor price of Rs 780 per share, representing a 2.6% discount from the previous closing price. The buyers and sellers involved in the transaction were not immediately known.
At 9:20 am, the stock was trading at Rs 819.3 on the NSE, continuing its strong performance.
Earlier this month, it had won a order worth Rs 565 crore from the Power Grid Corporation of India to manufacture transformers and reactors, which it will supply by FY26. In September, the company secured a Rs 114 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Limited to supply power transformers.
The company raised Rs 500 crore in June through QIP to marquee investors like Nomura, Goldman Sachs and HSBC which would be utilised for funding capex, debt repayments and to support growth.
The stock has surged nearly 250% this year, up 376% over the last 12 months, compared with a 27% rise in the Nifty during the same period.
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Source: Moneycontrol
News Desk
