2 weeks ago
TARIL wins Rs 100-500 crore TRANSCO transformer order; shares rise 3%
A company called Transformers and Rectifiers (India), or TARIL for short, makes big electrical machines called transformers.
These machines help move electricity from power plants to homes and factories.
TARIL just got a big new job from a government company in Andhra Pradesh called TRANSCO.
TRANSCO wants TARIL to make transformers for its power transmission network.
The job is worth between 100 and 500 crore rupees, which is a lot of money.
TARIL has about 13 months to finish the work.
Because of this good news, TARIL's shares went up by nearly 3% on the stock market.
The company told everyone that there are no hidden deals connected to its owners.
Over the past month, the share price had dropped around 11%, but over six months it has gained more than 11%.
TARIL is based in Ahmedabad, Gujarat.
Transformers and Rectifiers (India) (TARIL) secured large orders from the Transmission Corporation of Andhra Pradesh (TRANSCO) for manufacturing transformers.
TARIL defines large orders as those valued between Rs 100 crore and Rs 500 crore.
The domestic order is scheduled for delivery within the next 13 months, as per the company's regulatory filing.
TARIL's shares rose nearly 3% on the NSE in Friday's intraday session after the order announcement.
The company clarified the contracts are not related party transactions and its promoters have no interest in the awarding entities.
- Who
- Transformers and Rectifiers (India) (TARIL), an electrical equipment manufacturer, and the Transmission Corporation of Andhra Pradesh (TRANSCO).
- What
- TARIL secured Rs 100-500 crore large orders from TRANSCO for manufacturing transformers, and its shares rose nearly 3%.
- Where
- India, with a domestic order for Andhra Pradesh's power transmission network; TARIL is headquartered in Ahmedabad, Gujarat.
- When
- Announced in a regulatory filing; share rise was seen in Friday's intraday session.
- Why
- TRANSCO awarded transformer manufacturing contracts to TARIL for its power transmission requirements.
Key facts
- Company
- Transformers and Rectifiers (India) (TARIL)
- Client
- Transmission Corporation of Andhra Pradesh (TRANSCO)
- Order value
- Rs 100-500 crore (defined as a large order by TARIL)
- Scope of work
- Manufacturing and related work of transformers
- Delivery timeline
- Within the next 13 months
- Share price reaction
- Up nearly 3% intraday on the NSE
- 1-month share performance
- Fallen around 11%
- 6-month share performance
- Return of more than 11%
Sources
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