Various funds bought stakes in Transformers & Rectifiers after promoter Jitendra Mamtora sold 2.7 million shares
Shares of Transformers and Rectifiers hit another 5 per cent upper circuit on Friday, locking at Rs 778.05 per share
The Transformers and Rectifiers (India) Ltd share soared after the company announced that it has secured an order worth Rs 565 crore from Power Grid Corporation of India.
The surge in the company's share price came after the company received an order worth Rs 114 crore from RRVPNL.
In the past one year, shares of Transformers and Rectifiers India have gained 481 per cent, compared to the Nifty 50's rise of nearly 28 per cent during the same period.
On Thursday, US markets closed in the red as robust economic data dashed hopes for Federal Reserve rate cuts
Transformers and Rectifiers (India) hit the 5 per cent upper circuit on Tuesday after the company reported 4-fold jump in Q4 net profit at Rs 35.95 crore.
Transformers and Rectifiers (India) Ltd on Monday posted over four-fold jump in consolidated net profit at Rs 41.62 crore for March quarter FY24. Net profit in the year-ago period stood at Rs 9.60 crore, the company said in a BSE filing. Total income in the quarter rose to Rs 514 crore from Rs 439.50 crore a year ago. In the entire fiscal year, profit increased to Rs 47.01 crore from Rs 42.35 crore in FY23. Total income dipped to Rs 1,300.50 crore from Rs 1,404.66 crore. The company's board at its meeting held on April 8, 2024 recommended a dividend of 20 paise per equity share to all the existing shareholders. The board also proposed issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment to raise up to Rs 500 crore. It also approved reappointment of Satyen J. Mamtora as Managing Director with effect fom from April 1, 2025, subject to approval of
The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).
The board of directors of the company will be held on September 12, 2023, o consider the proposal of fund raising by way of issue of equity shares and/or equity linked securities.
In past one week, the stock has outperformed the market by surging 25 per cent, as compared to 1.8 per cent decline in the S&P BSE Sensex.
Transformers and Rectifiers (India) on Monday reported a consolidated net loss of Rs 3.6 crore for June quarter 2020-21 mainly due to lower revenues
The stock rallied 8% to Rs 420 on BSE in intra-day trade.
The stock rallied 11% to Rs 364 on BSE in early morning trade
The stock moved higher by 8% to Rs 345 on the BSE.