Transformers and Rectifiers share price zooms nearly 20% to hit all-time high; what's behind the rally?
Transformers & Rectifiers India (TRIL), one of the leading manufacturers of transformers, have skyrocketed 19.6% in today's trade to record a new lifetime high of ₹226 apiece. This impressive rally was attributed to the company's successful completion of a dynamic short circuit on 105 MVA Transformer. “Transformers and Rectifiers has successfully completed the most stringent ‘Dynamic Short Circuit Test’ on 105 MVA, 400/√3/220/√3/33 kV class single phase auto transformer, forming a bank of 315 MVA.
The dynamic short circuit test was conducted at the National High Power Test Laboratory (NHPTL), Bina, as per the IEC 60076-5 standard," the company said in today's exchange filing. Also Read: Yatra Online stock trading below its IPO price but Investec sees 51% upside; here's why With the successful completion of this test, the company said it crossed a milestone of a successful dynamic short circuit test on a record 150+ transformers in the last two decades. The company is engaged in the business of manufacturing and selling various kinds of transformers, such as power and distribution transformers, furnace transformers, rectifier transformers, and specialised transformers.
The company secured multiple orders in the current month. On December 20, it received an order valued at ₹219 crore from the Power Grid Corporation of India. Notably, this marks the second order from Power Grid in just two days.
On Tuesday, December 19, the company secured a ₹237 crore order. Before this, on December 19, the company bagged an order worth ₹118 crore from the Uttar Pradesh Power Transmission Corporation Ltd. Also Read: Will the Indian market continue its strong run? Here's where experts see Nifty by 2024-end This year so far, the shares have
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