Multibagger stock: Transformers and Rectifiers share price jumps 5% on bagging ₹232 crores order from Power Grid
₹232 crores from Power Grid Corporation of India Ltd on Saturday. Transformers and Rectifiers share price today opened at an intraday low of ₹345 and touched an intraday high of ₹358.65 apiece.
“Transformers & Rectifiers share price seems to be in an uptrend as it has been forming Higher Top Higher Bottom structure. The immediate supports are placed around ₹300 and ₹275," said Ruchit Jain, Lead Research Analyst at 5paisa.
The order, according to the company's exchange filing, is for the designing, engineering, manufacturing, testing at the manufacturer's works, and supply of five 500 MVA, 400/220/33kV, 3-Phase ICTs and five 500 MVA, 400/220/33kV, 3-Phase Auto Transformers, along with all necessary fittings and accessories for full execution, local transportation, loading and uploading, and installation services. Within 21 months after the date the award notice was issued, the full project shall be completed, the company further added.
The aforementioned order is a part of regular business operations and not fall within related party transactions, highlighted the company in its exchange filing. "Exciting news! Mint is now on WhatsApp Channels
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