Transformers and Rectifiers share price jumps on Rs 73 crore contract win

Stocks

Transformers and Rectifiers has been awarded orders of transformers for total contract value of Rs 73 crore from MP Power Transmission Package – II Limited

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Transformers and Rectifiers share price rose 8 percent intraday to Rs 37.40 on January 20 after the company bagged a contract of Rs 73 crore.

Transformers and Rectifiers (India) has been awarded orders of transformers for total contract value of Rs 73 crore from MP Power Transmission Package – II Limited, company said in its press release.

The said orders fall under the normal course of business. The company neither has any interest in these entities that awarded the orders nor fall within related party transactions, it added.

With this order, the company’s order book as on date stands around Rs 1,068 crore, company further said.

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At 12:18 hrs, Transformers and Rectifiers India was trading at Rs 36.65 apiece on the BSE, up 5.77 percent, while the benchmark Sensex was down 529.83 points or 0.88% at 59,568.99.

The share touched a 52-week high of Rs 39 and a 52-week low of Rs 15.90 on 29 December, 2021 and 30 March, 2021, respectively.

Currently, it is trading 6.28 percent below its 52-week high and 129.87 percent above its 52-week low. The scrip has surged 117 percent in the last 9 months.