Multibagger Transformers & Rectifiers Locked In Upper Circuit After Bagging Two Export Orders
The company has won two export orders worth total $16.80 million.
Shares of Transformers and Rectifiers (India) Ltd. rebounded from a two-day decline on Thursday, locking in a 5% upper circuit after receiving export orders worth $16.80 million.
An order of $14 million has been received from Linxon Global Sweden for 18 20-MVA trackside traction transformers and 55 7.5-MVA trackside auto transformers, according to an exchange filing. The entire work will be completed by October 2025.
The company also won another export order of $2.80 million from Arcelor Mittal Mexico for 175-MVA and 66-KV electrical arc furnace transformers.
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Shares of the company were locked in 5% upper circuit at Rs 709.85, the highest level since Aug. 19. That compares with 0.20% gain in the benchmark Nifty 50.
The stock has gained 510.10% in the last 12 months and 206.83% on a year-to-date basis. Total traded volume so far in the day stood at 1.3 times its 30-day average. The relative strength index was at 49.65.
Both the analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 30.4%.
