Transrail Lighting shares shrug off anchor lock-in expiry, rally 6%

Shares of Transrail Lighting extended gains to their fifth day while they have fallen 2.3 per cent this year

Shares of Transrail Lighting rose nearly 6 per cent on Monday even as the company's lock-in period for anchor investors ended during the session. 

 

Transrail Lighting's stock rose as much as 5.82 per cent during the day to ₹538.8 per share, the biggest intraday gain since February 28 this year. The stock pared gains to trade 2.98 per cent higher at ₹528.3 apiece, compared to a 0.83 per cent advance in Nifty 50 as of 10:17 AM. 

 

Shares of the company extended gains to their fifth day while they have fallen 2.3 per cent this year, compared to a 0.43 per cent fall in the benchmark Nifty 50. Transrail Lighting has a total market capitalisation of ₹7,086.03 crore, according to BSE data.  

ALSO READ | Stock Market LIVE Updates: Sensex climbs 650 pts to 77,550; Nifty at 23,540; Financials, Realty gain

 

 

Anchor investors face a lock-in period of 30 days for 50 per cent of their allotted shares before the initial public offering, while the remaining 50 per cent is locked in for 90 days. This restriction prevents institutions from selling their shares immediately after listing, helping to stabilise the stock price and promote long-term confidence in the market.  

The company could see a potential selloff by anchor investors worth ₹122.9 crore as the first lock in for the company ended on January 23 this year. The company had allotted about 5.69 million shares at ₹432 apiece to 19 anchor investors, ahead of its IPO in December 2024.  

ALSO READ | Welspun Corp hits life high on receiving ₹476 cr from reducing stake in arm

 

Last week, the company secured new orders worth Rs 1,647 crore in transmission and distribution (T&D) and railway businesses. These new orders, according to an exchange filing made by the company, include Letters of Awards (LOAs) for major T&D projects in the overseas market involving engineering, procurement and construction of transmission lines and substations.

 

Transrail Lighting is an engineering, procurement, and construction company with a primary focus on the power transmission and distribution business. Headquartered in India, it is a global enterprise with a footprint in 59 countries across five continents. As part of the Power T&D business, Transrail has large-scale manufacturing facilities in India for Galvanized Lattice Towers, Overhead Conductors, and Galvanized Monopoles, in addition to a well-accredited Tower testing facility.  ALSO READ | Divine Hira Jewellers shares list flat on NSE SME, miss GMP estimates

 

Shares of Transrail Lighting made their debut on the bourses on December 27, 2024, following the completion of its initial public offering (IPO). The company's shares listed at Rs 590 per share on the NSE, against the issue price of Rs 432.