 "TRIL gains on signing JV agreement with Chinese firm Jingke")
Transformers and Rectifiers (India) Ltd (TRIL) has rallied 11% to Rs 364 on the BSE in an early morning trade after the company said it has entered into a joint venture (JV) agreement with Chinese firm Jiangsu Jingke Smart Electric Company Limited (Jingke).
The joint venture will be set up to manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India.
“The company has entered into a Joint venture agreement with Jiangsu Jingke Smart Electric Company Limited (Jingke), a Company incorporated under laws of People’s Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India,” TRIL said in a statement.
TRIL will hold majority of 60% of share of JV and balance by Jingke. The company neither has any interest in Jingke nor fall within related party transactions, it added.
TRIL is leading manufacturer of Transformers and Reactors upto 765 kV. The Utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in T&D Segment, the company said.
At 10:20 am, the stock was up 6% at Rs 349 on the BSE, as compared to 0.22% rise in the S&P BSE Sensex. A combined 130,095 shares changed hands on the counter on the BSE and NSE so far.
The joint venture will be set up to manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India.
“The company has entered into a Joint venture agreement with Jiangsu Jingke Smart Electric Company Limited (Jingke), a Company incorporated under laws of People’s Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India,” TRIL said in a statement.
TRIL will hold majority of 60% of share of JV and balance by Jingke. The company neither has any interest in Jingke nor fall within related party transactions, it added.
TRIL is leading manufacturer of Transformers and Reactors upto 765 kV. The Utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in T&D Segment, the company said.
At 10:20 am, the stock was up 6% at Rs 349 on the BSE, as compared to 0.22% rise in the S&P BSE Sensex. A combined 130,095 shares changed hands on the counter on the BSE and NSE so far.