Jitendra Ujamsi Mamtora, the promoter of Transformers And Rectifiers (India) Ltd., offloaded stakes worth Rs 210.68 crore through open market transactions on Monday as the stock hit the upper circuit for the fifth consecutive trading session, leading to the shares advancing more than 20%. The buyers include Societe Generale and Stallion Asset Pvt.
Jitendra Ujamsi Mamtora sold 27 lakh shares, representing 1.79% for Rs 780.30 per share, according to NSE block deal data. The promoter, as of September 2024, held 33.10% of the shares, comprising 4.96 crore equity shares.
While the New York State Teachers Retirement System bought a 0.9% stake, PRU World FD INC. Pgim Jennison Emerging Markets Equity Opportunities Fund bought 6.09 lakh shares at Rs 780.3 apiece. Societe Generale bought 2.38 lakh shares, while Stallion Asset bought 4 lakh shares for Rs 780.30 per share. Advanced Series Trust and PGIM Funds PLC. were among the other buyers.
Transformers And Rectifiers Shares Rise 21% In Five Sessions
The shares of Transformers And Rectifiers rose as much as 5% to hit an upper circuit during the day. The stock closed at Rs 819.30 per share, against a 0.66% advance in the benchmark Nifty 50.
The share has been hitting the upper circuit for the last five sessions since the company announced a 24 times jump in the net profit for the quarter ended Sept. 30. The shares have risen 21.54% in the last five sessions, and it has seen a 378.42% in the last 12 months and 244.10% year-to-date.
The company in the second quarter reported a net profit of Rs 45.91 crore as against Rs 1.89 crore reported in the same quarter last year. The revenue also saw a 79.5% jump to Rs 461.54 crore in comparison to Rs 257.06 crore in the same period for the previous fiscal.
The operating income, or earnings before interest, taxes, depreciation, and amortisation, rose to Rs 69.20 crore, while the Ebitda margin expanded to 15% from 7.7% in the same period the previous year.
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