Transformers and Rectifiers secures ₹726 crore order from Gujarat Energy
Transformers and Rectifiers (India) Limited (TARIL) has secured orders worth ₹726 crore from Gujarat Energy Transmission Corporation Limited, according to the company announcement made today.
The shares of Transformers and Rectifiers (India) Limited (TARIL) were trading at ₹393.60 up by ₹19.35 or 5.17 per cent on the NSE today at 11.50 am.
The order involves the supply of Auto Transformers and Bus Reactors, with the entire project scheduled for completion within 18 months from the date of the Letter of Intent. The contract is classified as a domestic order and includes GST in its valuation.
TARIL confirmed that the order is in the normal course of business and does not fall under related party transactions. The company also stated that its promoters and group companies have no interest in Gujarat Energy Transmission Corporation Limited.
TARIL, which describes itself as the second-largest transformer manufacturing company in India by capacity, specialises in power, distribution, furnace, and specialty transformers. The company operates three manufacturing plants near Ahmedabad, Gujarat, and employs approximately 1,200 people.
