Transformers and Rectifiers (India) jumped 11.72% to Rs 192.50 at 15:02 IST on BSE after the company entered into the technology license agreement with Fuji Electrical Company, Japan.
The company made the announcement during trading hours today, 18 December 2014.
Meanwhile, the BSE Sensex was up 429.12 points, or 1.61%, to 27,139.25
On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 5,515 shares in the past one quarter.
The stock hit a high of Rs 199.80 and a low of Rs 180.90 so far during the day. The stock hit a 52-week high of Rs 236.50 on 3 July 2014. The stock hit a 52-week low of Rs 69.75 on 7 February 2014.
The stock had outperformed the market over the past one month till 17 December 2014, falling 2.82% compared with the Sensex's 5.21% fall. The scrip, however, underperformed the market in past one quarter, sliding 10.77% as against Sensex's 0.3% rise.
The small-cap company has an equity capital of Rs 13.26 crore. Face value per share is Rs 10.
Transformers and Rectifiers (India) (TRIL) said the company has entered into the technology license agreement with Fuji Electrical Company, (Fuji), Japan. Their strength lies in developing business in Energy Creation, Energy Management and Energy Conservation with Power Electronics as the core, TRIL said.
As a part of this Technology License Agreement, Fuji grants the license to TRIL in India to use its technology and know-how; to design, manufacture, assemble, inspect and sale of Generator step up transformers with single phase or three phase, 420 kV voltage and up to 1000 MVA bank capacity; Shunt reactors with three phase 420 kV voltage and up to 125 MV Ar capacity and Shunt reactor with single phase, 765 kV voltage and up to 133 MV Ar capacity
Under the technology license agreement valid for the period of 10 years, a dedicated team from TRIL will work with Fuji, to absorb and deploy this technology. This Technology transfer will provide an important milestone to TRIL which will help to enter into new horizons in manufacturing of high end reactors and transformers. This partnership with Fuji and the new technology infusion will reinforce the company's product offerings in the area of Transmission and Distribution, TRIL said in a statement.
TRIL reported net loss of Rs 6.60 crore in Q2 September 2014 as compared to net profit of Rs 3.91 crore in Q2 September 2013. Net sales fell 16.2% to Rs 122.17 crore in Q2 December 2014 over Q2 December 2013.
Transformers & Rectifiers (India) manufactures a wide range of transformers for the domestic and the international market.
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