Transformers & Rectifiers bags Rs 296cr GETCO order

Transformers and Rectifiers (India) Ltd (TRIL) has received Rs 296 crore order from the state power transmission company, Gujarat Energy Transmission Corporation Limited (GETCO) for supply of 392 units of transformers.

In a filing with the Bombay Stock Exchange (BSE), the company informed that it has been awarded single order of 392 units of transformers from GETCO to be executed in this fiscal.

"With this, company's total order book has jumped to above Rs 650 crores," the company informed.

The announcement by the company came as a booster for its shares on the bourses. The company shares hit the high of Rs 96.9 in the intra-day trade on Monday.

Last week, the company's chairman and managing director, Jitendra Mamtora had maintained that demand for transformers from the state utilities has been a concern for the sector. He had also raised concerns about the current state of the power sector in India.

"India's power industry has been in a bad shape for past one year. This weakness reflects in transformer industry too. The transformer demand has been affected due to severe power shortage in south and north India," said Mamtora.