Shares of Transformers and Rectifiers India surged on Friday following new orders from APTRANSCO, Power Grid Corporation, and GETCO, signalling strong growth prospects despite recent share declines and mixed quarterly results.
Shares in Transformers and Rectifiers India climbed on Friday after the company said it had secured a fresh order from the Transmission Corporation of Andhra Pradesh, or APTRANSCO. The stock touched an intraday high of Rs 305.90 on the National Stock Exchange after the firm received a letter of intent for work worth between Rs 100 crore and Rs 500 crore, according to EquityPandit. The contract covers transformer manufacturing and related tasks, with delivery due over the next 13 months.
The APTRANSCO award adds to a busy order pipeline for the Ahmedabad-based transformer maker. The Economic Times reported that on 30 June the company won an “ultra-mega” contract from Power Grid Corporation of India, a category it uses for orders worth more than Rs 1,000 crore before tax. That project, which involves transformers of different capacities and associated work, is scheduled to run for 30 months. Business Standard and Energetica India also reported that Power Grid later placed a separate Rs 53.33 crore order for an HVDC converter transformer, including repair, erection, testing and commissioning work.
More recently, the company disclosed another large contract from Gujarat Energy Transmission Corporation, or GETCO, worth Rs 228.26 crore. According to reports from Energetica India and The Economic Times, the order covers six transformers and two reactors, with completion expected by August 2028. Together, the orders point to steady demand from India’s power transmission sector, where grid expansion and replacement spending have supported suppliers of heavy electrical equipment.
The latest share move came despite a softer run for the stock over a longer period. EquityPandit said the company’s shares closed at Rs 298.05 on Friday, up 2.07% for the day, but remained down nearly 11% over the past month and slightly lower for the year so far. The company’s June-quarter results were mixed: consolidated net profit fell almost 9% to Rs 61.52 crore, even as revenue from operations rose more than 8% to Rs 572.34 crore from a year earlier.
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