14 Oct , 2024 By : Debdeep Gupta
Transformers and Rectifiers India shares surged to their upper circuit of five percent after a block deal worth Rs 211 crore took place on the exchanges.
As many as 27 lakh shares of Transformers and Rectifiers changed hands in a block deal, at a floor price of Rs 780 per share, reflecting a 2.6 percent discount from the previous closing price.
Grow Mudra could not immediately ascertain the buyers and sellers involved in the transaction.
At 09.20 am, shares of Transformers and Rectifiers India were trading at Rs 819.3 on the NSE.
Earlier this month, the firm won an order worth Rs 565 crore from the Power Grid Corporation of India for the manufacturing of transformers and reactors with the delivery lined up for FY26.
Last month, the company secured another Rs 114 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Limited for power transformers of 50 MVA, 132/33 KV. The company will manufacture the transformers and deliver them by the next financial year.
Moreover, back in June, the company also raised Rs 500 crore through a qualified institutional placement (QIP) which has garnered strong interest from marquee names like Nomura, Goldman Sachs, and HSBC, all of which participated in the fund raise.
The company intended to use the proceeds to fund its capex plans, repay its borrowings, and for working capital, inorganic growth, and general corporate purposes.
The stock has gained nearly 250 percent so far this year. In the past 12 months, the stock has zoomed nearly 376 percent, more than quadrupling investors' money. In comparison, the benchmark Nifty rallied 27 percent during this period.
0 Comment