Shares of Transformers and Rectifiers (India) Ltd surged 20 per cent after the company got a Rs 126-crore order from Power Grid Corporation of India.
Intra-day, shares zoomed 20 per cent to an upper price band at Rs 8.37 and settled 8.17 per cent higher at Rs 7.55 on the BSE.
Similar trends were seen on the National Stock Exchange. The stock jumped 19.65 per cent to Rs 8.25 and closed with a gain of 8.70 per cent at Rs 7.50.
"Transformers and Rectifiers (India) Ltd has been awarded the order for 21 No. of transformers amounting to Rs 126 crore from Power Grid Corporation of India Limited. With this order, the company's order book as on date stands around Rs 1,001 crore," the company said in a BSE filing on Wednesday.
Transformers and Rectifiers (India) Ltd, incorporated in 1994, is a major transformer manufacturer.
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