Shares of Transformers and Rectifiers India surged to the upper circuit limit of 5% following a significant block deal worth Rs 211 crore. Approximately 2.7 million shares were traded at a floor price of Rs 780 each, which is a 2.6% discount from the last closing price.
Also Read: Hyundai Motor India Gears Up for EV Exports – Find Out the Full Plan!
At 09:20 am, the company’s stock was trading at Rs 819.3 on the NSE. Earlier this month, Transformers and Rectifiers secured a major order valued at Rs 565 crore from the Power Grid Corporation of India for manufacturing transformers and reactors, with delivery scheduled for FY26.
Additionally, the company obtained a Rs 114 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Limited for 50 MVA power transformers, which are expected to be manufactured and delivered by the next financial year. In June, Transformers and Rectifiers raised Rs 500 crore through a qualified institutional placement (QIP), attracting interest from notable investors such as Nomura, Goldman Sachs, and HSBC.
The proceeds from the QIP are aimed at funding capital expenditure, repaying borrowings, and supporting working capital and growth initiatives. The stock has experienced impressive growth, rising nearly 250% this year and approximately 376% over the past 12 months, significantly outperforming the benchmark Nifty, which has increased by 27% during the same period.
