TRF rallies 10.2% in two days

TRF was locked at 5% upper circuit at Rs 299.10 at 12:51 IST on BSE, with the stock extending Monday's 5% rally triggered by the company receiving an order worth Rs 353.67 crore from Bharat Heavy Electricals.

Meanwhile, the S&P BSE Sensex was down 92.75 points or 0.35% at 26,723.81.

On BSE, so far 87,000 shares were traded in the counter as against average daily volume of 19,564 shares in the past one quarter.

The stock hit a low of Rs 292 so far during the day. The stock had hit a 52-week high of Rs 319 on 30 June 2014. The stock had hit a 52-weeek low of Rs 97.05 on 13 November 2013.

The stock had outperformed the market over the past one month till 15 September 2014, surging 28.77% compared with the Sensex's 2.73% rise. The scrip had also outperformed the market in past one quarter, jumping 10.6% as against Sensex's 6.3% rise.

The small-cap engineering equipment maker has equity capital of Rs 11 crore. Face value per share is Rs 10.

Shares of TRF have rallied 10.22% in two trading sessions from Rs 271.35 on 12 September 2014, after the company after market hours on 12 September 2014, said it has secured an order worth Rs 353.67 crore from Bharat Heavy Electricals (Bhel). The stock had rallied by the maximum permissible level of 5% to settle at Rs 284.90 on Monday, 15 September 2014.

TRF announced receipt of order worth Rs 353.67 crore from Bhel, Bangalore for design, engineering, manufacturing, supply, erection and commissioning for conveying and crushing system with associated equipment for ore, flux, coal & coke handing system of 3.0 MTPY integrated steel plant of NMDC, Nagarnar, Chhatisgarh.

TRF reported a consolidated net loss of Rs 6.18 crore in Q1 June 2014, lower than net loss of Rs 7.56 crore in Q1 June 2013. Net sales declined 8.8% to Rs 296.03 crore in Q1 June 2014 over Q1 June 2013.

TRF is a pioneer in engineering and supply of material handling equipment and systems for five decades.

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